Portfolio Update

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

% of  Total Assets

Sberbank	11.62
Lukoil	10.62
PZU	6.47
Turkiye Halk Bankasi	4.80
Magnit	4.05
Novatek	4.02
Tatneft Pao	3.12
Phosagro	3.03
Dogus Otomotiv	2.97
LSR	2.86

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

Russia Total	64.19
Turkey Total	16.29
Poland Total	14.25
Romania Total	3.76
Other European Total	3.15
Czech rep Total	2.50
Greece Total	1.72
Kazakhstan Total	0.57
Cash & Equivalents	-6.43