Holding(s) in Company

For filings with the FSA include the annex
For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii

Genesis Emerging Markets Fund Limited

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying
financial instruments

An event changing the breakdown of voting rights

Other (please specify):       Proxy Voting                                               X

3. Full name of person(s) subject to the notification obligation: iii

BT Pension Scheme Trustees Limited as trustee of the BT Pension Scheme.  See Section 9 for further information

4. Full name of shareholder(s)(if different from 3.):iv

Hermes Equity Ownership Services Limited

5. Date of the transaction and date on which the threshold is crossed or reached: v

15th January 2010

6. Date on which issuer notified:

18th January 2010

7. Threshold(s) that is/are crossed or reached: vi, vii

5%

8. Notified details:

A: Voting rights attached to shares viii, ix
Class/type of shares if possible using the ISIN CODE

GG00B4L0PD47

Situation previous to the triggering transaction
Number of Shares:  N/A
Number of Voting Rights: N/A

Resulting situation after the triggering transaction
Number of Shares:
Direct: N/A

Number of voting rights:
Direct xi: N/A
Indirect xii: 6,819,100

% of voting rights x
Direct: N/A
Indirect: 5.053 %

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

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial instrument
Exercise price
Expiration datexvii
Exercise/Conversion period xviii
Number of voting rights instrument refers to
% of votingrights xix,xx
Nominal  Delta

Total (A+B+C)
Number of voting rights             Percentage of voting rights
6,819,100                           5.053 %

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

BT Pension Scheme Trustees Limited, as trustee of the BT Pension Scheme ("BTPS")is the parent undertaking of Britel Fund
Nominees Limited and Britel Fund Trustees Limited, which is the parent undertaking of Hermes Fund Managers Limited
("HFML").  HFML is the parent undertaking of:

Hermes Equity Ownership Services Limited ("HEOS")(voting rights: 5.053%)

This notification is also being made in respect of HEOS, which is an indirect holder of shares for the purpose of DTR
5.2.1(h).  The voting rights include the following: (i) all of the voting rights of the underlying clients of HEOS for
whom it provides voting services; (ii) all of the voting rights attaching to the direct shareholding of BTPS; (iii) all
of the voting rights attaching to shares managed by HIML; and (iv) the voting rights attaching to the direct
shareholding of BTPS that are managed by HSL.

Please see Section 13 for further information.

All Voting Rights on all Shares are controlled by City of London Investment Management Limited.

Proxy Voting:
10. Name of the proxy holder:

See Comment in Section 13

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

See Comment in Section 13

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

See Comment in Section 13

13. Additional information:

HEOS hold the voting rights under a standing proxy contained in agreements for the provision of voting services to
various underlying clients for the purposes of DTR 5.2.1(h), which includes all of the shares owned directly by BTPS,
all of the voting rights attaching to shares managed by HIML and the voting rights attaching to the direct shareholding
of BTPS that are managed by HSL

All voting rights held on behalf of the above entities are aggregated for the purposes of DTR 5.2.1(e).

This disclosure is made by BT Pension Scheme Trustees Limited as trustee of the BT Pension Scheme, which is the ultimate
parent undertaking for the purposes of DTR 5.2.1(e).

14. Contact name:

Valerie Davidson

15. Contact telephone number:

020 7680 2177

ANNEX NOTIFICATION OF MAJOR INTERESTES IN SHARES xvi
A: Identity of the person or legal entity subject to the notification obligation
Full Name (including legal form for legal entities)

BT Pension Scheme Trustees Limited

Contact Address (registered office for legal entities)

1 Portsoken Street, London, E1 8HZ

Phone Number

020 7702 0888

Other useful information (at least legal representative for legal persons)

BT Pension Scheme Trustees Limited is the parent undertaking of the group of companies subject to the notification
obligation as indirect holders of voting rights for the purpose of DTR 5.2.1(h) and 5.2.1(e).

B: Identity of the notifier, if applicable xvii
Full Name:

Hermes Fund Managers Limited as agent for BT Pension Scheme Trustees Limited

Contact Address:

1 Portsoken Street, London, E1 8HZ

Phone Number:

020 7680 2177

Other useful information (e.g. functional relationship with the person or legal entity subject to the notification
obligation):

Hermes Fund Managers Limited acts as the authorised administration agent on behalf of BT Pension Scheme Trustees Limited

C: Additional Information

Please contact Valerie Davidson on the above number for further information.

Copy sent to the Company Secretary Genesis Emerging Markets [e-mail]; [e-mail]