Holding(s) in Company

For immediate release

10 November 2008

COMPANY ANNOUNCEMENT

Genesis Emerging Markets Fund Limited

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

1.  Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:             Genesis
Emerging Markets Fund Limited

2.  Reason for the notification (yes/no)

     An acquisition or disposal of voting rights           YES

     An acquisition or disposal of financial instruments which may result
     in the acquisition of shares already issued to which voting rights are attached

     An event changing the breakdown of voting rights

     Other (please specify):

3.  Full name of person(s) subject to the notification obligation:
     Devon County Council

4.  Full name of shareholder(s) (if different from 3.):


5.  Date of the transaction (and date on which the threshold is crossed or
     reached if different):  05 November 2008

6.  Date on which issuer notified:  05 November 2008

7.  Threshold(s) that is/are crossed or reached:  4%

8.  Notified details:


A.  Voting rights attached to shares

Class/type of shares: (if possible using the ISIN CODE):
GB0003678025

Situation previous to the Triggering transaction
Number of Shares:  541,949
Number of Voting Rights:  541,949

Resulting situation after the triggering transaction
Number of shares:  559,949
Number of voting rights - Direct:  559,949
Number of voting rights - Indirect :
% of Voting rights - Direct:  4.12%
% of Voting rights - Indirect:

B.  Financial Instruments

Resulting situation after the triggering transaction
Type of financial instrument:
Expiration date:
Exercise / Conversion Period / Date:
Number of voting rights that may be acquired if the instrument is exercised / converted:
Percentage of voting rights:

Total (A + B)
Number of voting rights:  559,494
% of voting rights:  4.12%

9.  Chain of controlled undertakings through which the voting rights and / or the financial instruments are effectively
held, if applicable:

Proxy Voting:

10.  Name of the proxy holder:

11.  Number of voting rights proxy holder will cease to hold:

12.  Date on which proxy holder will cease to hold voting rights:

13.  Additional Information:

14.  Contact name:  R J Burrough

15. Contact telephone name:  01392 382520



END