Result of EGM

17 Jan 2008 18:19

17 January 2008 European Utilities Trust PLC (the `Company')

ADJOURNMENT OF SEPARATE GENERAL MEETING OF THE HOLDERS OF ORDINARY INCOME

SHARES, ADJOURNMENT OF SEPARATE GENERAL MEETING OF HOLDERS OF THE ZERO COUPON PREFERENCE SHARES, ADJOURNMENT OF EXTRAORDINARY GENERAL MEETING, AND CHANGE TO

EXPECTED TIMETABLE

The Directors of the Company announce that the Separate General Meeting of the Holders of ZCP Shares convened for 10.00 a.m. today was adjourned to 10.00 a.m. on 24 January 2008 due to lack of quorum.

The Chairman, following consent of the Ordinary Income shareholders at the Separate General Meeting of the holders of Ordinary Income Shares at 10.05 am today and the shareholders at the First EGM at 10.10 a.m. today, adjourned the Separate General Meeting of the holders of Ordinary Income Shares to 10.05 am on 24 January 2008 and the First EGM to 10.10 a.m. on 24 January 2008.

The adjourned meetings will be held at the address stated in the Notices contained within the Circular sent to Shareholders on 17 December 2007.

Proxies for each of the adjourned meetings must be submitted within the time set out below. Proxy Forms already submitted will be valid for the adjourned meetings.

Notwithstanding that today's Separate General Meeting's and the First EGM have been adjourned until the 24 January 2008, under the terms of the Scheme, 62.36 per cent. of ZCP shareholders and 65.66 per cent. of Ordinary Income shareholders have made elections to realise their investment for cash.

Expected Timetable

The adjournment of the Separate General Meeting of the holders of Ordinary Income Shares and ZCP Shares and the First EGM has had an impact on the Expected Timetable contained within the Circular. The changes to the Expected Timetable are as set out below:

Latest time and date for receipt of Forms of Proxy for the ZCP Shareholders' Meeting 10.00 a.m. on 22 January 2008

Latest time and date for receipt of Forms of Proxy for the Ordinary Income Shareholders' Meeting 10.05 a.m. on 22 January 2008

Latest time and date for receipt of Forms of Proxy for the First Extraordinary General Meeting 10.10 a.m. on 22 January 2008

ZCP Shareholders' Meeting 10.00 a.m. on 24 January 2008

Ordinary Income Shareholders' Meeting 10.05 a.m. on 24 January 2008

First Extraordinary General Meeting 10.10 a.m. on 24 January 2008

Calculation Date as at 5.00 p.m. on 29 January 2008

Latest time and date for receipt of Forms of Proxy for the Second Extraordinary General Meeting 10.00 a.m. on 30 January 2008

Second Extraordinary General Meeting 10.00 a.m. on 1 February 2008

Effective Date 4 February 2008

Enquiries:

Nigel Sidebottom, Premier Asset Management 01483 400 465

Paul Richards/James King, Fairfax I.S. PLC 020 7598 5368

Notes

Words and expressions defined in the circular relating to the Company dated 17 December 2007 have the same meanings when used in this announcement unless the context requires otherwise.