Director/PDMR Shareholding Investment Manager

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSIONS DISCHARGING MANAGERIAL
  RESPONSIBILITY OR CONNECTED PERSONS.

1. Name of the issuer.

   Baring Emerging Europe PLC

2. State whether the notification relates to (i) a transaction notified in
   accordance with DR 3.1.4R(1) (a); or (ii) DR 3.1.4R (1) (b) a disclosure
   made in accordance with section 324 (as extended by section 328) of the
   Companies Act 1985; or (iii) both (i) and (ii).

   Relates to (iii) above.

3. Name of person discharging managerial responsibilities/director.

   Saul Estrin

4. State whether notification relates to a person connected with a person
   discharging managerial responsibilities/director named in 3 and identify the
   connected person.

   N/A

5. Indicate whether the notification is in respect of a holding of the person
   referred to in 3 or 4 above or in respect of a non-beneficial interest.

   Person referred to in 3 above.

6. Description of shares (including class), debentures or derivatives or
   financial instruments relating to shares.

   Ordinary shares of 10p each.

7. Name of registered shareholders(s) and, if more than one, the number of
   shares held by each of them.

   Rensburg Sheppards Client Nominees Limited

8. State the nature of the transaction.

   Purchase of shares.

9. Number of shares, debentures or financial instruments relating to shares
   acquired.

   1,000

10.Percentage of issued class acquired (treasury shares of that class should
   not be taken into account when calculating percentage).

   0.002%

11.Number of shares, debentures or financial instruments relating to shares
   disposed.

   N/A

12.Percentage of issued class disposed (treasury shares of that class should
   not be taken into account when calculating percentage).

   N/A

13.Price per share of value of transaction.

   £5.989

14.Date and place of transaction.

   7 June 2006.

15.Total holding following notification and total percentage holding following
   notification (treasury shares of that class should not be taken into account
   when calculating percentage).

   1,000 Ordinary shares (0.002%)

16.Date issuer informed of transaction.

   8 June 2006.

   (If a person discharging managerial responsibilities has been granted
   options by the issuer complete the following boxes).

17.Date of Grant.


18.Period during which or date on which it can be exercised.


19.Total amount paid (if any) for grant of the option.


20.Description of shares or debentures involved (class and number).


21.Exercise price (if fixed at time of grant) or indication that price is to be
   fixed at the time of exercise.


22.Total number of shares or debentures over which options held following
   notification.


23.Any additional information.


24.Name of contact and telephone number for queries.

   Mike Nokes
   020 7982 1260

25.Name and signature of duly authorised officer of issuer responsible for
   making notification.


   Mike Nokes
   8 June 2006.