Holding(s) in Company

Eastern European Trust PLC
14 March 2003


THE EASTERN EUROPEAN TRUST PLC ('the Company')

The Company has today been notified that, following a disposal of ordinary
shares in the Company, discretionary clients of City of London Investment 
Management Company Limited have an aggregate interest in 1,016,364 ordinary 1p 
shares representing 12.880 % of the Company's issued share capital. The various 
funds investing in the shares has changed and these are detailed below.

Relevant clients of City of London Investment Management Company Limited have
the following beneficial interests:

Fund                                                         No. of shares held     % of issued share capital
Investable Emerging Markets Country Fund                     439,931                5.575
The Emerging Markets Country Fund                            469,433                5.949
The Emerging World Fund                                      89,000                 1.128
The GFM Emerging Markets Country Fund                        18,000                 0.228



14 MARCH 2003

                                    - ENDS -


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