Result of AGM

Baring Emerging Europe Trust PLC
23 September 2002




                    THE BARING EMERGING EUROPE TRUST PLC
 
                                RESULT OF AGM          

The Board of The Baring Emerging Europe Trust PLC ('the Company') announces the
results of today's Annual General Meeting. The Board is pleased to report that
all the resolutions proposed by the Board were passed unanimously on a show of
hands. Full details of the proxies received are shown below. Following
discussions with Laxey Partners ('Laxey'), as announced on 19 September 2002,
Laxey did not move the resolutions it had requisitioned.

As outlined in the announcement, issued on 19 September 2002, the Board proposes
to convene an extraordinary general meeting to consider the reconstruction of
the Company. It is expected that a circular will be sent to shareholders by mid-
November 2002 containing full details of the proposals.


Sir William Ryrie, Chairman of The Baring Emerging Europe Trust PLC, commented:

'The Board is very pleased with the level of support received for its
resolutions at today's AGM. The Board is also pleased to have reached an
agreement with Laxey about the future of the Company and believes that the
proposals to be put to shareholders for the reconstruction will be in the
interests of shareholders generally.'

The proxy position for the resolutions passed at the meeting was as follows:

                          For                  Against              Abstentions
 
Resolution 1          50,155,429                 23,840                      -
                                              
Resolution 2          41,600,735              7,298,303              1,280,231 

Resolution 3          41,589,173              7,309,865              1,280,231

Resolution 4          50,130,403                 47,186                  1,680

Resolution 5          42,866,249              7,317,770                      -

 
A copy of Resolution 5, being a special resolution to allow the Company to make
certain market purchases of its own Ordinary shares, has been submitted to the
UK Listing Authority, and will shortly be available for inspection at the UK
Listing Authority's Document Viewing Facility, which is situated at: 

Financial Services Authority 
25 The North Colonnade 
Canary Wharf 
London E14 5HS 
Telephone [phone]


Enquires:
Citigate Dewe Rogerson                           Tel: [phone] 
Patrick Toyne Sewell / Jonathan Flint

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