Transaction in Own Shares

Baring Emerging Europe PLC
5 January 2005


On 5 January 2005 Baring Emerging Europe PLC purchased 300,000 of its ordinary 
shares at a price of 331p per share. These shares will be held as Treasury 
Shares. Following this purchase the total number of ordinary shares in issue is 
43,259,906 and the total number of ordinary shares held by the Company in 
Treasury is 1,100,000.

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