Holding(s) in Company

TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

Baring Emerging Europe PLC

2. Reason for the notification                                        State    
                                                                     Yes/No    
                                                                               
An acquisition or disposal of voting rights                                    
                                                                               
An acquisition or disposal of financial instruments which may                  
result in the                                                                  
acquisition of shares already issued to which voting rights are                
attached                                                                       
                                                                               
An event changing the breakdown of voting rights                               
                                                                               
Other (please specify): INCREASE IN MARKET SHARE                        X      

3. Full name of person(s) subject to the notification    SARASIN & PARTNERS LLP
obligation (iii):                                                              
                                                                               
4. Full name of shareholder(s) (if different from 3.)    THE BANK OF NEW YORK  
(iv):                                                    (BRUSSELS)            
                                                                               
                                                         BANK SARASIN AND Co   
                                                         Ltd (ZURICH)          
                                                                               
                                                         BNP PARIBAS SECURITY  
                                                         SERVICES (JERSEY)     
                                                                               
                                                         FORTIS BANQUE         
                                                         LUXEMBOURG SA (EFA)   
                                                                               
                                                         RBC DEXIA INVESTOR    
                                                         SERVICES BANK S.A.    
                                                         (ZURICH)              
                                                                               
5. Date of the transaction (and date on which the               11/01/08       
threshold is crossed                                                           
or reached if different) (v):                                                  
                                                                               
6. Date on which issuer notified:                               15/01/08       
                                                                               
7. Threshold(s) that is/are crossed or reached:                   10%          
                                                                               
8. Notified details:                                                           

A: Voting rights attached to shares

Class/type of  Situation previous    Resulting situation after the triggering  
    shares             to                       transaction (vii)              
 if possible     the Triggering                                                
using the ISIN  transaction (vi)                                               
     CODE                                                                      
                                                                               
                Number    Number    Number   Number of voting    % of voting   
                  of        of        of        rights (ix)         rights     
                Shares    Voting    shares                                     
                          Rights                                               
                          (viii)                                               
                                                                               
                                             Direct  Indirect  Direct Indirect 
                                               (x)     (xi)                    
                                                                               
 GB0032273343  4,015,378 4,015,378 4,115,378         4,115,378        10.1185% 
                                                                               

B: Financial Instruments

Resulting situation after the triggering transaction (xii)

   Type of     Expiration       Exercise/        Number of voting       % of   
  financial    date (xiii)      Conversion      rights that may be     voting  
 instrument                 Period/ Date (xiv)    acquired if the      rights  
                                                    instrument                 
                                                   is exercised/               
                                                     converted                 
                                                                               
     N/A                                                                       

Total (A+B)                                                                    
                                                                               
Number of voting rights                 % of voting rights                     
                                                                               
4,115,378 shares                        10.1185%                               

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are
effectively held, if applicable (xv):



Proxy Voting:


10. Name of the proxy holder:                                 N/A              
                                                                               
11. Number of voting rights proxy holder will cease to hold:  N/A              
                                                                               
12. Date on which proxy holder will cease to hold voting      N/A              
rights:                                                                        

13. Additional                                                                 
information:                                                                   
                                                                               
14. Contact name:        Joy Ighade,Funds Compliance Manager                   
                                                                               
15. Contact telephone    [phone]                                         
number :                                                                       
                                                                               

Annex Notification Of Major Interests In Shares (xvi)


A: Identity of the person or legal entity subject to the                       
notification obligation                                                        
                                                                               
Full name (including legal form for legal entities)           N/A              
                                                                               
Contact address (registered office for legal entities)        N/A              
                                                                               
Phone number                                                  N/A              
                                                                               
Other useful information (at least legal representative for   N/A              
legal persons)                                                                 
                                                                               
B: Identity of the notifier, if applicable (xvii)                              
                                                                               
Full name                                                                      
                                                                               
Contact address                                                                
                                                                               
Phone number                                                                   
                                                                               
Other useful information (e.g. functional relationship with                    
the person                                                                     
or legal entity subject to the notification obligation)                        

C: Additional information