Announcement of Tender Price

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, NEW ZEALAND, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

25 January 2017

BARING EMERGING EUROPE PLC

Announcement of Tender Price

On 15 December 2016, the Company announced the publication of a circular (the "Circular") in respect of a tender offer for up to 10 per cent. of the issued share capital of the Company (excluding any Shares held in treasury) (the "Tender Offer"). Terms used in this announcement and not otherwise defined shall have the same meaning as in the Circular.

The Board announces that the NAV as at the Calculation Date (24 January 2017) was 806.28 pence per Share. Accordingly, the Tender Price is 784.18 pence per Share, being 97.5 per cent. of the NAV (after accounting for the costs of the Tender Offer) as at the Calculation Date.

It is currently expected that the Tender Offer will become unconditional on 27 January 2017, which will also be the Trade Date for Shares which have been accepted for repurchase under the Tender Offer.

Subject to the Tender Offer becoming unconditional, a total of 1,585,858 Shares, representing approximately 10.00 per cent. of the Company's issued share capital (excluding any Shares held in treasury), will be acquired by J.P. Morgan Cazenove and will subsequently be repurchased by the Company for cancellation.

The expected timetable for the completion of the Tender Offer is as follows:

Trade Date for Shares submitted for Tender Offer	27 January 2017
Settlement of proceeds through CREST in respect of Tender Offer shares to uncertificated shareholders	31 January 2017
Despatch of settlement proceeds by cheque in respect of Tender Offer shares to certificated shareholders	by 3 February 2017

Unless otherwise stated, all references to time in this document are to London time.

Enquiries:

Steven Bates
Chairman, Baring Emerging Europe PLC
Tel: [phone]

William Simmonds
J.P. Morgan Cazenove
Tel: [phone]

Martin Salmon / Graham Venables
Northern Trust
Tel: [phone]