Portfolio Update

Baring Emerging Europe PLC announces that at close of business 30 April 2019 its ten largest investments were as follows:                                

	% of  Total Assets
Sberbank	10.40
Lukoil	10.00
Novatek	8.92
Gazprom	7.32
PZU	4.95
X5 Retail Group	4.87
KGHM Polska Miedz	3.95
Mail Ru Group	2.94
Santander Bank Polska SA	2.92
Komercni Banka	2.81

The geographic breakdown at close of business 30 April 2019 was as follows:

Russia	62.61
Poland	20.45
Turkey	9.82
Hungary	3.52
Romania	1.81
Greece	2.50
Czech	2.81
Kuwait	0.88
Other European	1.36
Cash & Equivalents	-5.76