Change of Valuation Frequency

Genesis Emerging Markets Fund Ld
15 August 2002



                              COMPANY ANNOUNCEMENT

                     Genesis Emerging Markets Fund Limited



15th August, 2002


The Directors of Genesis Emerging Markets Fund Limited would like to announce
that in response to requests from shareholders the valuation frequency of the
Company is being increased from fortnightly to weekly, beginning from 3rd
September 2002.




Enquiries :

Genesis Investment Management Limited     Martyn Ryan

Phone + 44 (0) 20 7201 7200





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