Holding(s) in Company

Baring Emerging Europe PLC
6 January 2003

A notice was received today from Devon County Council advising that Devon County
Council Pension Fund has a notifiable interest in 2,000,000 ordinary shares of
£0.10 in Baring Emerging Europe plc representing 4.177% of the relevant issued
share capital.

These shares are registered as follows:-

State Street Bank and Trust Company                        2,000,000


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