Portfolio Update

Baring Emerging Europe PLC announces that at close of business 30 September 2015 its ten largest investments were as follows:                        

	% of  Total Assets
Sberbank	9.63
Lukoil	9.38
PZU	8.70
Akbank	6.87
Magnit	6.73
Turkiye Halk Bankasi	5.52
Novatek	4.55
Mail.ru	3.80
Mobile Telesystems	3.79
Tatneft	3.63

The geographic breakdown at close of business 30 September 2015 was as follows:

	%
Russia	57.91
Turkey	25.01
Poland	20.44
Romania	2.21
Georgia	1.45
Ukraine	1.29
Kazakhstan	0.88
Cash & Equivalents	-9.19