Holding(s) in Company Ten Largest Investments

COMPANY ANNOUNCEMENT

                      Genesis Emerging Markets Fund Limited

                             Ten Largest Investments


3rd July 2006

The Directors of the Genesis Emerging Markets Fund Limited announce that the
following were the ten largest holdings of the Fund as at 30th June 2006:

  1. Taiwan Semiconductor Co
  2. Samsung Electronics
  3. PT Telekomunikasi Indonesia
  4. Anglo American
  5. China Shenhua Energy
  6. Mobile Telesystems
  7. Bank Rakyat Indonesia
  8. Korea Electric Power
  9. Standard Bank
10. Vale do Rio Doce

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

Enquiries:

Genesis Investment Management LLP     Charles Zorab
                                                                        Phone
[phone]