Miscellaneous Investment Policy

COMPANY ANNOUNCEMENT

                      Genesis Emerging Markets Fund Limited

                                Investment Policy


14th April, 2004

The  Directors of Genesis Emerging Markets Fund Limited hereby announce that,
for  the purposes of new Listing Rule 21.9 (L), its investment policy is  not
to  invest  more  than  15%  of its gross assets in other  listed  investment
companies (including Investment Trusts).



Enquiries :


Genesis Investment Management Limited   Charles Zorab
                                        Phone + 44 (0) 20 7201 7200