Holding(s) in Company

COMPANY ANNOUNCEMENT

                      Genesis Emerging Markets Fund Limited

                             Ten Largest Investments


1st October, 2004

The  Directors of the Genesis Emerging Markets Fund Limited announce that the
following were the ten largest holdings as at 30th September, 2004:

Genesis Chile Fund
New Century Holdings
Samsung Electronics
PT Telekomunikasi Indonesia
Sasol
Anglo American
Femsa
America Movil
KT&G Corp
Taiwan Semiconductor Co.


There were no other holdings of more than 5% of the portfolio.


Enquiries :


Genesis Investment Management LLP       Charles Zorab
                                        Phone + 44 (0) 20 7201 7200