Holding(s) in Company Interest in Shares

COMPANY ANNOUNCEMENT

                      Genesis Emerging Markets Fund Limited

                               Interest in Shares


1st September 2006

The Board of Genesis Emerging Markets Fund Limited announces that it has been
informed today of the following holding in its shares by City of London
Investment Management limited:

429450 Participating Preference Shares representing 3.18% of the issued share
capital.


Enquiries:

Genesis Investment Management LLP: Charles Zorab
                              Tel: [phone]