Portfolio Update

Baring Emerging Europe PLC
4 October 2004


In accordance with listing Rule 21.20 (L) (ii), Baring Emerging Europe plc 
announces that as at 30 September 2004 the following companies have a value 
greater than 5% of the Company's portfolio or are its ten largest investments:


Bank Pekao
CEZ
JSC MMC Norilsk
Lukoil Holdings 
Magyar 01aj & Gas 
Mobile Telesystems 
OTP Bank 
Polski Kon Naft 
Surgutneftegaz 
Telekomun Polska


                      This information is provided by RNS
            The company news service from the London Stock Exchange