Portfolio Update

Baring Emerging Europe PLC announces that at close of business 31 October 2017 its ten largest investments were as follows:                                

	% of  Total Assets
Sberbank	11.07
Lukoil	8.52
OTP Bank	5.14
Novatek	3.48
Mail.ru	3.44
Garanti Bank	3.40
Tatneft Pao	3.29
PZU	3.16
CCC	2.74
X5 Retail	2.68

The geographic breakdown at close of business 31 October 2017 was as follows:
 

Russia	61.71
Poland	14.71
Turkey	11.69
Hungary	6.42
Romania	3.74
Czech rep	2.87
Greece	2.91
Other European	2.11
Cash & Equivalents	-6.16