Investment Manager

Baring Asset Management Limited ("Barings"), the investment manager of Baring
Emerging Europe PLC (the "Company"), has advised the Company that it has
appointed Martin Majdaniuk as investment manager within its Emerging European
Equities team. Mr Majdaniuk joins from Nordea Investment Management in
Copenhagen where he has been a portfolio manager for the last eight years. He
will report to Dr Ghadir Abu Leil-Cooper, Head of Emerging Europe Equities at
Barings, and will take responsibility for the Company's portfolio. Mr Majdaniuk
will join Barings by the end of the year. Dr Ghadir Abu Leil-Cooper will assume
responsibility for the Company's portfolio when Stuart Richards leaves Barings.