Portfolio Update

Baring Emerging Europe PLC announces that as at 28 February 2010 its ten
largest investments were as follows :

                              % of Total Assets

Sberbank                           10.36
Gazprom                             9.91
Rosneft                             8.37
Lukoil Holdings                     5.80
Turkiye Garanti Bankasi             5.74
Mobile Telesystems                  5.51
JSC MMC Norilsk                     5.21
Powszechna Kasa                     5.01
CEZ                                 4.05
Vimpel Comms                        3.97


The geographic breakdown as at 28 February 2010 were as follows:

                                     %

Russia                             61.43
Turkey                             16.33
Poland                              9.06
Hungary                             4.48
Czech Rep                           4.05
Kazakhstan                          2.26
Other                               0.74
Cash & Equivalents                  1.65