Net Asset Value(s)

Genesis Emerging Markets Fund Ld
18 September 2002



                              COMPANY ANNOUNCEMENT


                     Genesis Emerging Markets Fund Limited


18 September, 2002


The Directors of Genesis Emerging Markets Fund Limited would like to announce
that the Company's Net Asset Value per share was $15.10 as at the 13th
September, 2002.


Enquiries :

Genesis Investment Management Limited          Martyn Ryan
                                               Phone + 44 (0) 20 7201 7200



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