Holding(s) in Company

TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

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

Baring Emerging Europe PLC

2. Reason for the notification                                        State    
                                                                     Yes/No    
                                                                               
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):                                                 X      

3. Full name of person(s) subject to the notification    City of London        
obligation                                               Investment Management 
                                                         Company Limited       
                                                                               
4. Full name of shareholder(s) (if different from 3.)                          
                                                                               
5. Date of the transaction (and date on which the           29 August, 2012    
threshold is crossed                                                           
or reached if different)                                                       
                                                                               
6. Date on which issuer notified:                           31 August, 2012    
                                                                               
7. Threshold(s) that is/are crossed or reached:            From 21 % to 20 %   

8. Notified details:

A: Voting rights attached to shares

Class/type of Situation previous    Resulting situation after the triggering   
   shares             to                           transaction                 
 if possible    the triggering                                                 
  using the       transaction                                                  
  ISIN CODE                                                                    
                                                                               
               Number    Number     Number    Number of voting   Percentage of 
                 of        of         of           rights           voting     
               Shares    Voting     shares                          rights     
                         Rights                                                
                                                                               
                                    Direct   Direct   Indirect  Direct Indirect
                                                                               
GB0032273343  5,356,029 5,356,029 5,256,029          5,256,029          21.46% 
                                                                               

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

   Type of     Expiration       Exercise/        Number of voting       % of   
  financial       date          Conversion      rights that may be     voting  
 instrument                       Period          acquired if the      rights  
                                                    instrument                 
                                                   is exercised/               
                                                     converted                 
                                                                               

C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments

Resulting situation after the triggering transaction

  Type of    Exercise Expiration Exercise /  Number of voting    % of voting   
 financial    price      date    Conversion  rights instrument      rights     
 instrument                        period        refers to                     
                                                                               
                                                               Nominal   Delta 
                                                                               

Total (A+B+C)                                                                  
                                                                               
Number of voting rights                 % of voting rights                     
                                                                               
5,256,029                               20.98 %                                

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

All voting rights on all shares are controlled by City of London Investment    
Management Limited                                                             
                                                                               

Proxy Voting:


10. Name of the proxy holder:                                 City of London   
                                                              Investment       
                                                              Management       
                                                              Company Limited  
                                                                               
11. Number of voting rights proxy holder will cease to hold:                   
                                                                               
12. Date on which proxy holder will cease to hold voting                       
rights:                                                                        

13. Additional           15:38 29-Aug-2012                                     
information:                                                                   
                         Baring Emerging Europe PLC announces that today it    
                         purchased 150,000 of its own ordinary shares of 10p   
                         each at a price of £6.73 per ordinary share. These    
                                                                               
                         shares will be cancelled.                             
                                                                               
                         Following the transaction, the Company's issued       
                         ordinary share capital is 25,049,043 (excluding       
                         treasury shares) and 28,367,250 (including treasury   
                                                                               
                         shares) ordinary shares of 10p each. The total number 
                         of treasury shares held by the Company is 3,318,207.  
                                                                               
14. Contact name:        Jay McKenna or Chris Weaver                           
                                                                               
15. Contact telephone    [e-mail] - 001-610-380-0121 OR          
number :                                                                       
                         [e-mail] - 0207 860 8329