Portfolio Update

Baring Emerging Europe PLC
02 February 2006



In accordance with listing Rule 21.20 (L)(ii)Baring Emerging Europe PLC
announces that as at 31 January 2006 the following companies have a value
greater than 5% of the Company's portfolio or are its ten largest investments :

Akbank

CEZ

JSC MMC Norilsk

Lukoil Holdings

Magyar Olaj & Gas

OTP Bank

Polski Kon Naft

RAO Unified Energy

Sberbank Russia

Surgutneftegaz

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