Shares in Issue

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA, NEW ZEALAND OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO
SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

28 February 2012

                  Baring Emerging Europe PLC (the "Company")                   

                                Shares in Issue                                

The Board announces that as a result of the Tender Offer a total of 6,485,567
Shares have been repurchased by the Company and will be cancelled. Following
the transaction the Company's issued Ordinary Share capital is 25,942,543
Ordinary Shares (excluding 3,318,207 Ordinary Shares held in treasury by the
Company).

Enquiries:

Steven Bates
Baring Emerging Europe PLC - 0207 982 1260

William Simmonds
J.P. Morgan Cazenove - 0207 588 2828