Investment Manager

BARING EMERGING EUROPE PLC

Investment Manager

Baring Asset Management Limited ("Barings"), the investment manager of Baring
Emerging Europe PLC (the "Company"), has advised the Company that Martin
Majdaniuk is leaving Barings. Matthias Siller will replace Mr Majdaniuk as the
Company's portfolio manager. There will be a period of overlap to ensure a
smooth transition.

Mr Siller is an investment manager within the Barings Emerging European
Equities team with eleven years of investment experience specialising in
Central Europe and Turkey. He reports to Dr Ghadir Abu Leil-Cooper, Head of
Emerging European Equities at Barings, who is the existing back up portfolio
manager for the Company.

1 December 2008