Portfolio Update

Baring Emerging Europe PLC
4 May 2005


In accordance with listing Rule 21.20 (L)(ii), Baring Emerging Europe PLC
announces that as at 30 April 2005 the following companies have a value greater
than 5% of the Company's portfolio or are its ten largest investments :

Bank Pekao 

CEZ

Lukoil Holdings 

Magyar Olaj & Gas 

Mobile Telesystems 

OTP Bank 

Polski Kon Naft 

Sberbank Russia 

Telekomun Polska 

Unified Energy

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