Realisation Shares

Genesis Emerging Markets Fund Ld
14 July 2000


     GENESIS EMERGING MARKETS FUND LIMITED ('GEMF')

Shareholders on the Register on 4 February 2000 received
a Rights Letter giving them the right to reclassify one
Participating Share for every two Participating Shares
held (50% of their holding) into Realisation Shares which
were to be redeemed.

Following the distribution of approximately US$ 160
million in May 2000 the Board of GEMF intends to make a
further cash payment to Realisation Shareholders
totalling approximately US$ 61.75 million.  Holders of
Realisation Shares on 14 July 2000 will have
approximately three quarters of their remaining holding
redeemed.

The payment is equivalent to US$ 13.39 per outstanding
Realisation Share, based on the number of Realisation
Shares currently outstanding following the redemption of
65.53% of the Realisation Shares in May 2000, and is
expected to be made on or before 20 July 2000.

The Directors are actively considering ways in which the
remaining assets in the Realisation Share portfolio can
be realised and expect to make a further announcement in
the near future with a view to concluding the liquidation
of that portfolio.

Enquiries:

Howard Myles
UBS Warburg                        Tel: [phone]