Holding in Company

Govett Emerging Markets Inv Tst PLC
27 October 2000



                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

GOVETT EMERGING MARKETS INVESTMENT TRUST PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

HERMES INVESTMENT MANAGEMENT LTD ON BEHALF OF THE TRUSTEES OF THE BT PENSION
SCHEME


3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

AS IN 2


4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

BRITEL FUND NOMS LTD -  1,916,100
POSSFUND NOMS LTD    -  1,153,672


5)   Number of shares/amount of stock acquired.

NOT ADVISED



6)   ( - %) of issued Class


7)   Number of shares/amount of stock disposed

NOT ADVISED


8)   ( - %) of issued Class


9)   Class of security

ORDINARY 10p SHARES


10)  Date of transaction

26/10/2000


11)  Date company informed

27/10/2000


12)  Total holding following this notification

3,069,772

               
13)  Total percentage holding of issued class following this notification

8.58%


14)  Any additional information

POSSFUND NOMINEES LTD HAS A MATERIAL INTEREST OF 1,153,672 SHARES 3.225% OF
ISSUED CLASS


15)  Name of contact and telephone number for queries

SARA WALTHAM  020 7940 5745


16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ... 27 OCTOBER 2000 ...