Portfolio Update

Baring Emerging Europe PLC announces that at close of business 31 August 2017

its ten largest investments were as follows:                                

                                                                        % of  Total Assets

Sberbank	10.43
Lukoil	7.38
Magnit	4.16
OTP Bank	4.11
Garanti Bank	3.82
Alrosa	3.55
PZU	3.32
Novatek	3.20
Mail.ru	3.12
TCS Group	3.10

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

Russia	61.08
Poland	14.21
Turkey	12.57
Hungary	5.23
Romania	3.76
Greece	3.34
Czech rep	3.17
Other European	1.84
Cash & Equivalents	-5.20