Holding(s) in Company

For immediate release

11th December 2008

COMPANY ANNOUNCEMENT

Genesis Emerging Markets Fund Limited

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

1.  Identity of the issuer or the underlying issuer of existing shares
to which voting rights are attached:  Genesis Emerging Markets Fund Limited

2.  Reason for the notification (yes/no)
    An acquisition or disposal of voting rights                                       YES

    An acquisition or disposal of financial instruments which may result
    in the acquisition of shares already issued to which voting rights are attached   NO

    An event changing the breakdown of voting rights                                  NO

    Other (please specify):                                                           NO

3.  Full name of person(s) subject to the notification obligation:
    Sarasin & Partners LLP

4.  Full name of shareholder(s) (if different from 3.):
    Bank Sarasin & Co Ltd (Zurich)
    BNP Paribas Security Services (Jersey)
    Fortis Banque Luxembourg SA (EFA)
    The Northern Trust Company Limited (London)
    RBC Dexia Investor Services S.A. (Zurich)
    The Bank of New York (Brussels)

5.  Date of the transaction (and date on which the threshold is crossed or
    reached if different):  10th December 2008

6.  Date on which issuer notified:  10th December 2008

7.  Threshold(s) that is/are crossed or reached:  From 11.1512% to 10.7807%

8.  Notified details:
A.  Voting rights attached to shares
Class/type of shares: (if possible using the ISIN CODE): GB0003678025

Situation previous to the Triggering transaction
Number of Shares:  1,454,965
Number of Voting Rights:  1,454,965

Resulting situation after the triggering transaction
Number of shares:  1,504,965
Number of voting rights - Direct: 1,504,965
Number of voting rights - Indirect :
% of Voting rights - Direct: 10.7807%
% of Voting rights - Indirect:

B.  Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument:
Expiration date:
Exercise / Conversion Period / Date:
Number of voting rights that may be acquired if the instrument
is exercised / converted:
Percentage of voting rights:

Total (A + B)
Number of voting rights:  1,504,965
% of voting rights:  10.7807%

9.  Chain of controlled undertakings through which the voting rights
and/or the financial instruments are effectively held, if applicable:

Proxy Voting:
10.  Name of the proxy holder:

11.  Number of voting rights proxy holder will cease to hold:

12.  Date on which proxy holder will cease to hold voting rights:

13.  Additional Information:

14.  Contact name:  Yacine Diagne

15. Contact telephone name:  Yacine Diagne - 0207 038 7198


END