Directorate change

COMPANY ANNOUNCEMENT

                      Genesis Emerging Markets Fund Limited

                               Directorate Change




19th January 2005

The Board of Genesis Emerging Markets Fund Limited announce the retirement from
the Board with immediate effect of Mr Richard Carss.

The Board is pleased to announce that, following receipt of regulatory approval,
Mr Michael Hamson has been appointed as an independent Director of the Company.

Mr  Hamson is a director of Newmont Mining Inc. (USA), and a former director  of
Normandy Mining Limited, and Tourism Asset Holdings Limited (Australia).

There are no other matters requiring disclosure under paragraph 16.4 of the FSA
Listing Rules.


Enquiries :


Genesis Investment Management LLP        Charles Zorab
                                    Tel + 44 (0) 20 7201 7200