Portfolio Update

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

                                                                        % of  Total Assets

Sberbank	11.31
Lukoil	9.09
Akbank	5.42
Novatek	4.80
Turkiye Halk Bankasi	4.70
Magnit	4.17
Yandex	3.76
Phosagro	3.61
Dogus Otomotiv	3.39
Tatneft	2.86

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

Russia	58.57
Turkey	27.90
Poland	9.65
Romania	3.68
Czech Rep	3.17
Greece	1.73
Hungary	1.58
Other European	0.73
Kazakhstan	0.56
Cash & Equivalents	-7.58