Holding(s) in Company

TR-1: Notifications of Major Interests in Shares                               

1. Identity of the issuer or the underlying     BARING EMERGING EUROPE PLC     
issuer of existing shares to which voting                                      
rights are attached:                                                           
                                                                               
2. Reason for notification (yes/no) Y                                          
                                                                               
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    SARASIN & PARTNERS LLP                 
notification obligation:                                                       
                                                                               
4. Full name of shareholder(s) (if      THE BANK OF NEW YORK (BRUSSELS)        
different from 3):                                                             
                                        BANK SARASIN and Co Ltd                
                                                                               
                                        FORTIS BANQUE(LUXEMBOURG)              
                                                                               
                                        RBC DEXIA INVESTOR SERVICES (ZURICH)   
                                                                               
5. Date of transaction (and date on     16/07/08                               
which the threshold is crossed or                                              
reached if different):                                                         
                                                                               
6. Date on which issuer notified:       17/07/08                               
                                                                               
7. Threshold(s) that is/are crossed or  10%                                    
reached:                                                                       

8: Notified Details                                                               
                                                                                  
A: Voting rights attached to shares                                               
                                                                                  
Class/type   Situation previous  Resulting situation after the triggering         
of shares    to the triggering   transaction                                      
             transaction                                                          
If possible                                                                       
use ISIN                                                                          
code                                                                              
                                                                                  
GB0032273343                                                                      
                                                                                  
                                                                                  

Number of Number of Number of Number of voting  Percentage of                 
shares    voting    shares    rights            voting rights                 
          rights                                                              
3,843,571           4,035,371                                                 
          3,843,571                                                           
                              Direct  Indirect  Direct   Indirect             
                                                                              
                                      4,035,371          10.1375%             
                                                                              

B: Financial Instruments                                                       
                                                                               
Resulting situation after the triggering transaction                           
                                                                               
Type of        Expiration     Exercise/       No. of voting      Percentage of 
financial      date           conversion      rights that may be voting rights 
instrument                    period/date     acquired (if the                 
                                              instrument                       
                                              exercised/                       
                                              converted)                       
                                                                               
N/A                                                                            

Total (A+B)                                                                    
                                                                               
Number of voting rights                 Percentage of voting rights            
                                                                               
4,035,371                               10.1375%                               

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

Proxy Voting:                                                                  
                                                                               
N/A                                                                            
                                                                               
10. Name of proxy holder:               N/A                                    
                                                                               
11. Number of voting rights proxy       N/A                                    
holder will cease to hold:                                                     
                                                                               
12. Date on which proxy holder will     N/A                                    
cease to hold voting rights:                                                   

13. Additional information:             N/A                                    
                                                                               
14 Contact name:                        N/A                                    
                                                                               
15. Contact telephone name:             N/A                                    

Annex: Notification of major interests in shares                               

A: Identity of the persons or legal entity subject to the notification         
obligation                                                                     
                                                                               
Full name                               SARASIN & PARTNERS LLP                 
                                                                               
(including legal form of legal                                                 
entities)                                                                      
                                                                               
Contact address                         100 JUXON HOUSE                        
                                                                               
(registered office for legal entities)  ST.PAUL'S CHURCHYARD                   
                                                                               
                                        LONDON                                 
                                                                               
                                        EC4M 8BU                               
                                                                               
Phone number & email                                                           
                                                                               
Other useful information                                                       
                                                                               
(at least legal representative for                                             
legal persons)                                                                 

B: Identity of the notifier, if applicable                                     
                                                                               
Full name                               JOY IGHADE                             
                                                                               
Contact address                         100 JUXON HOUSE                        
                                                                               
                                        ST.PAUL'S CHURCHYARD                   
                                                                               
                                        LONDON                                 
                                                                               
                                        EC4M 8BU                               
                                                                               
Phone number & email                    0207 038 7150 [e-mail] 
                                                                               
Other useful information                FUNDS COMPLIANCE MANAGER               
                                                                               
(e.g. functional relationship with the                                         
person or legal entity subject to the                                          
notification obligation)                                                       

C: Additional information