Holding(s) in Company Notification of Major Int...

For immediate release

15 March 2007

                              COMPANY ANNOUNCEMENT


Genesis Emerging Markets Fund Limited


TR-1 : NOTIFICATION OF MAJOR INTERESTS IN SHARES

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

2.  Reason for the notification

    An acquisition or disposal of voting rights                             (X)

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

    An event changing the breakdown of voting rights                        ( )

    Other(please specify):

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

    City of London Investment Management Company Limited

4.  Full name of shareholder(s) (if different from 3.)                      N/A

5.  Date of the transaction (and date on which the threshold is crossed or
    reached if different):                                            6th March 2007

6.  Date on which issuer notified:                                    8th March 2007

7.  Threshold(s) that is/are crossed or reached:                           9%

8.  Notified details:


A.  Voting rights attached to shares

Class/type of shares: (if possible using the ISIN CODE):

                 Participating Shares                       GB0003678025

Situation previous to the Triggering transaction
Number of Shares:                                                      1,151,930
Number of Voting Rights:                                                  8.51%

Resulting situation after the triggering transaction
Number of shares - Direct:
Number of voting rights - Direct:
Number of voting rights - Indirect:                                    1,221,930
% of Voting rights - Direct:
% of Voting rights - Indirect:                                            9.05%

B.  Financial Instruments

Resulting situation after the triggering transaction
Type of financial instrument:
Expiration date:
Exercise / Conversion Period / Date:
Number  of  voting rights that may be acquired if the instrument is exercised  /
converted:
% of voting rights:


Total (A + B)
Number of voting rights:                                                 1,221,930
% of voting rights:                                                         9.05%


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

Proxy Voting:
10.  Name of the proxy holder:  N/A
11.  Number of voting rights proxy holder will cease to hold:  N/A
12.  Date on which proxy holder will cease to hold voting rights:  N/A
13.  Additional Information:  N/A
14.  Contact name:  N/A
15.  Contact telephone number:  N/A

ANNEX NOTIFICATION OF MAJOR INTERESTS IN SHARES xvi

A: Identity of the person or legal entity subject to the notification obligation

Full name (including legal form for legal entities):

Contact address (registered office for legal entities):

Phone number:

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



B:  Identity of the notifier, if applicable xvii

Full name :            City of London Investment Management Company Limited

Contact address :      10 Eastcheap, London, EC3M 1LX

Phone number  :        0207 860 8332

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


C:   Additional  information:  This is the initial disclosure made  by  Rensburg
Sheppards  Investment Management Limited based on Nominee holdings in accordance
with  DTR 5.2.1(F).  On an ongoing basis additional disclosures will be made  as
and when a notifiable threshold is crossed.


End