Portfolio Update

Baring Emerging Europe PLC
02 June 2006


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



Bank Pekao
CEZ
Gazprom
JSC MMC Norilsk
Lukoil Holdings
Magyar Olaj & Gas
OTP Bank
RAO Unified Energy
Sberbank Russia
Surgutneftegaz





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