Appointment of Alternative Investment Fund Manager

BARING EMERGING EUROPE PLC (the "Company")

Notice of appointment of Alternative Investment Fund Manager ("AIFM") and
depositary to ensure compliance with the Alternative Investment Fund Managers 
Directive (2011/61/EU) ("AIFMD")

In order to comply with AIFMD, the Company has appointed Baring Fund Managers
Limited ("BFM") to act as its Alternative Investment Fund Manager ("AIFM")
pursuant to an Alternative Investment Fund Management Agreement entered into by
the Company and the AIFM on 21 July 2014 (the "AIFM Agreement").

BFM has been approved as an AIFM by the UK's Financial Conduct Authority. The
investment management agreement entered into by the Company and Baring Asset
Management Limited ("BAM") on 12 November 2002 (the "IMA") has therefore been terminated
although BFM has delegated the portfolio management of the Company's portfolio
of assets to BAM. The AIFM Agreement is based on the IMA and differs to the
extent necessary to ensure that the relationship between the Company and BFM is
compliant with the requirements of AIFMD. The fees payable to BFM and the
notice period under the AIFM Agreement are unchanged from the IMA.

The Company and BFM have also entered into a depositary agreement with State
Street Trustees Limited ("State Street") pursuant to which State Street has
been appointed as the Company's depositary for the purposes of AIFMD.

21 July 2014