Transaction in Own Shares

Transaction in Own Shares

Baring Emerging Europe PLC announces that on 29th July 2008 it purchased 53,660
of its own ordinary shares of 10p each at a price of £8.185969 per ordinary
share. These shares will be cancelled.

Following the transaction, the Company's issued ordinary share capital is
39,752,581 (excluding treasury shares) and 43,070,788 (including treasury
shares) ordinary shares of 10p each. The total number of treasury shares held
by the Company is 3,318,207