Cancellation of shares held in Treasury

Cancellation of shares held in Treasury

Baring Emerging Europe PLC announces that on 16th July 2008 it has cancelled
1,000,000 of its own ordinary shares of 10p that were held in Treasury.

Following the cancellation, the Company's issued ordinary share capital is
39,806,241 (excluding treasury shares) and 43,124,448 (including treasury
shares) ordinary shares of 10p each. The total number of treasury shares held
by the Company is 3,318,207