Portfolio Update

Baring Emerging Europe PLC announces that at close of business 31 May 2016 its ten largest investments were as follows:                                   

	% of  Total Assets
Sberbank	11.99
Lukoil	8.54
Akbank	5.26
Halk Bank	4.89
Novatek	4.85
Magnit	4.56
Yandex	3.92
Phosagro	3.74
Dogus Otomotiv	3.50
PZU	3.01

The geographic breakdown at close of business 31 May 2016 was as follows:

Russia	55.45
Turkey	27.81
Poland	9.94
Romania	3.65
Czech Rep	3.30
Greece	2.53
Hungary	2.08
Other European	0.83
Kazakhstan	0.62
Cash & Equivalents	-6.21