Statement re AGM Resolutions

Baring Emerging Europe Trust PLC
5 August 2002


On 5th August 2002, the Company received a requisition under s 376 (2) (a) of
the Companies Act, 1985, from a nominee on behalf of funds under the management
of Laxey Partners Ltd ('Laxey'). This requires the Board to give notice of five
Ordinary resolutions to be moved at the Annual General Meeting of the Company on
23rd September 2002. The resolutions, if passed, would have the effect of
removing as a director John Cousins and appointing as directors Colin Kingsnorth
and Rupert Lea (both executives of Laxey), and also Preston Rabl, who was a
director of the Company until his resignation on 30 November 2000.

The Board is reviewing these proposals and a further announcement will be made 
in due course.

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