Holding(s) in Company

Baring Emerging Europe Trust PLC
17 January 2002

A notice was received on 16 January 2002 from Laxey Partners Ltd advising that, 
they have an interest as discretionary investment manager having control of the 
same in 14,840,729 ordinary US$0.10 shares in The Baring Emerging Europe Trust 
plc representing 12.5% of the relevant issued share capital.  These share are 
registered as follows:

CSFB Nominees Ltd                      14,840,729