Portfolio Update

Baring Emerging Europe PLC announces that at close of business 31 May 2013 its
ten largest investments were as follows:

% of Total Assets

Sberbank 11.00

Lukoil 10.39

Gazprom 5.31

Novatek 4.70

Turkiye Halk Bankasi 4.55

Mobile Telesys OJSC 3.91

Magnit GDR 3.79

Turkiye Vakiflar Bankasi 3.37

Powszechny Zakl'd 3.32

VTB Bank GDR 3.31

The geographic breakdown at close of business 31 May 2013 was as follows:

%

Russia 63.73

Turkey 16.19

Georgia 1.19

Poland 11.13

Czech Rep 0.54

Ukraine 1.19

Hungary 2.19

Slovenia 0.05

Cash & Equivalents 3.79