Transaction in Own Shares

Transaction in Own Shares

Baring Emerging Europe PLC announces that on 30th September 2008 it purchased
37,500 of its own ordinary shares of 10p each at a price of £6.206521 per
ordinary share. These shares will be cancelled.

Following the transaction, the Company's issued ordinary share capital is
39,416,505 (excluding treasury shares) and 42,734,712 (including treasury
shares) ordinary shares of 10p each. The total number of treasury shares held
by the Company is 3,318,207