Portfolio Update

Baring Emerging Europe PLC announces that at close of business 30 April 2016 its ten largest investments were as follows:                                   

	% of  Total Assets
Sberbank	11.70
Lukoil	8.97
Halk Bank	5.92
Akbank	5.67
Novatek	4.39
Magnit	4.04
Dogus Otomotiv	3.88
Yandex	3.69
Phosagro	3.67
PZU	3.25

The geographic breakdown at close of business 30 April 2016 was as follows:

Russia	54.09
Turkey	31.49
Poland	10.18
Romania	3.65
Greece	2.25
Hungary	1.93
Czech Rep	1.61
Other European	0.72
Kazakhstan	0.46
Cash & Equivalents	-6.38