Portfolio Update

Baring Emerging Europe PLC
04 July 2006


In accordance with listing Rule 21.20 (L)(ii), Baring Emerging Europe PLC
announces that as at 30 June 2006 the following companies have a value greater
than 5% of the Company's portfolio or are its ten largest investments :

CEZ
Gazprom
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