Portfolio Update

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

                                                                        % of  Total Assets

Sberbank                                                               11.27

Lukoil                                                                     9.50

PZU                                                                       7.85

Akbank                                                                  7.49

Magnit                                                                    6.07

Turkiye Halk Bankasi                                              5.90

Novatek                                                                 4.27

Tatneft                                                                   3.82

Mobile Telesystems                                                3.58 

Phosagro                                                               3.28

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

                                                                                     %

Russia                                                                        58.31

Turkey                                                                       26.20

Poland                                                                        18.65

Romania                                                                     3.10

Georgia                                                                       1.56

Kazakhstan                                                                 0.70

South Africa                                                                 0.82

Cash & Equivalents                                                     -9.34