Transaction in Own Shares

Transaction in Own Shares

Baring Emerging Europe PLC announces that on the 11th March 2009 it purchased
10,210 of its own ordinary shares of 10p each at a price of £3.75 per ordinary
share. These shares will be cancelled.

Following the transaction, the Company's issued ordinary share capital is
37,909,817 (excluding treasury shares) and 41,228,024 (including treasury
shares) ordinary shares of 10p each. The total number of treasury shares held
by the Company is 3,318,207