Holding(s) in Company

Advance Developing Markets Fund Limited has received the following
notification of interest in its shares

TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares
to which voting rights are attached (ii):   Advance Developing
Markets Fund Limited

2. Reason for the notification (please state Yes/No): (    )

An acquisition or disposal of voting rights: ( YES  )

An acquisition or disposal of qualifying financial instruments which
may result in the acquisition of shares already issued to which
voting rights are attached: (    )

An acquisition or disposal of instruments with similar economic
effect to qualifying financial instruments (    )

An event changing the breakdown of voting rights: (      )

Other (please specify) : (     )

3. Full name of person(s) subject to the notification obligation
(iii):
City of London Investment Management Company Limited

4. Full name of shareholder(s) (if different from 3.) (iv):

5. Date of the transaction (and date on which the threshold is
crossed or  reached) (v):
8 December 2009

6. Date on which issuer notified:
10 December 2009

7. Threshold(s) that is/are crossed or reached (vi, vii):
15%

8. Notified details:


A: Voting rights attached to shares (viii, ix)


Class/type of shares if possible Situation previous to the Triggering
using the ISIN CODE                          transaction
                                 Number of shares   Number of voting
                                                    Rights
GG00B45L2K95                     8,946,882          8,946,882




Resulting situation after the triggering transaction


Class/type of shares if Number of Number of voting % of voting rights
possible using the ISIN shares    rights
CODE
                        Direct    Direct Indirect  Direct   Indirect
                                  (xi)   (xii)
GG00B45L2K95            N/A              9,996,882 15.16%


B: Qualifying Financial Instruments
Resulting situation after the triggering transaction


Type of    Expiration  Exercise/Conversion Number of voting    % of
financial  Date (xiii) Period/ Date (xiv)  rights that may be  voting
instrument                                 acquired if the     rights
                                           instrument is
                                           exercised/
                                           converted.




C: Financial Instruments with similar economic effect to Qualifying
Financial Instruments xv, xvi


Resulting situation after the triggering transaction
Type of    Exercise Expiration Exercise/  Number of     % of voting
financial  price    date xvii  Conversion voting rights rights xix,
instrument                     period     instrument    xx
                               xviii      refers to

                                                        Nominal Delta





Total (A+B+C)

Number of voting rights % of voting rights
9,996,882               15.16%


9. Chain of controlled undertakings through which the voting rights
and/or the financial instruments are effectively held, if applicable
(xxi):
All voting rights on all Shares are controlled by City of London
Investment Management Limited.

Proxy Voting:

10. Name of the proxy holder:
City of London Investment Management Company Limited

11. Number of voting rights proxy holder will cease to hold:


12. Date on which proxy holder will cease to hold voting rights:


13. Additional information:

14. Contact name:
Jay McKenna or Mike Sugrue

15. Contact telephone number:
[e-mail] - 001-610-380-0121 OR
[e-mail] - 0207 860 8340

Enquiries:

Name of person making this announcement on behalf of Advance
Developing Markets Fund Limited.

Mr Russell Scott

Tel: [phone]

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