Net Asset Value(s)

11 Apr 2007 11:30

EUROPEAN UTILITIES TRUST PLC

The net asset value per Ordinary Income share of European Utilities Trust plc as at the close of business on 6 April 2007 was 299.31p.

The net asset value per Zero Coupon Preference share of European Utilities Trust plc was 301.71p

Funds under management were ‚£40,479,216.

The portfolio has been valued using bid prices.

Movements in the fair value of the Company's derivative financial instrument is recognised in the net asset value. This comprises of an interest rate swap associated with the Company's borrowings.

The analysis of the gross assets less current liabilities at 6 April 2007 by geographical area is as follows:

Czech Republic 5% France 15% Germany 12% Greece 3% Italy 13% Portugal 4% Spain 14% United Kingdom 33% Cash 1% 100%