Portfolio Update

Baring Emerging Europe PLC announces that at close of business 31 March 2017 its ten largest investments were as follows:                           

	% of  Total Assets
Sberbank	11.06
Lukoil	8.80
PZU	5.32
Magnit	4.31
Novatek	4.26
Garanti Bank	4.26
Tatneft Pao	3.55
LSR	3.47
Gazprom	3.05
Alrosa	3.05

The geographic breakdown at close of business 31 March 2017 was as follows:

Russia	64.73
Poland	12.99
Turkey	12.60
Romania	4.50
Hungary	3.50
Czech rep	3.33
Other European	2.64
Greece	2.60
Cash & Equivalents	-6.89