Portfolio Update

Baring Emerging Europe PLC announces that at close of business 31 May 2018 its ten largest investments were as follows:                                   
                                                                       

	% of  Total Assets
Lukoil	11.45
Sberbank	10.14
Novatek	6.74
Tatneft Pao	5.15
Garanti Bank	4.34
PZU	3.73
OTP Bank	3.56
Powszechna Kasa Oszczednosci Bank	3.19
Gazprom	3.03
CCC	2.94

The geographic breakdown at close of business 31 May 2018 was as follows:
 

Russia	63.07
Poland	17.47
Turkey	10.00
Hungary	3.56
Romania	4.75
Greece	2.70
Czech rep	3.04
Other European	2.77
Cash & Equivalents	-7.36