Tender Offer Conditions

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA, NEW ZEALAND OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO
SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

24 February 2012

                  Baring Emerging Europe PLC (the "Company")                   

                            Tender Offer Conditions                            

On January 18 2012, the Company announced the publication of a circular (the "
Circular") in respect of a tender offer for up to 20 per cent. of the issued
share capital of the Company (excluding any Shares held in treasury) (the "
Tender Offer"). Terms used in this announcement and not otherwise defined shall
have the same meaning as in the Circular.

The Board announces that each of the conditions to the Tender Offer listed in
paragraph 2.1 of Part IV of the Circular has now been satisfied and that
accordingly, the Tender Offer has been declared unconditional.

A total of 6,485,567 Shares, representing approximately 19.99 per cent. of the
issued share capital of the Company (excluding any Shares held in treasury),
will therefore be acquired by J.P. Morgan Cazenove and will subsequently be
repurchased by the Company for cancellation.

Enquiries:

Steven Bates

Baring Emerging Europe PLC - 0207 982 1260

William Simmonds

J.P. Morgan Cazenove - 0207 588 2828