Net Asset Value(s)

COMPANY ANNOUNCEMENT

Genesis Emerging Markets Fund Limited

15th December 2005

The Directors of Genesis Emerging Markets Fund Limited would like to announce that the Company's Net Asset Value per
share was $45.03 as at the 13th December 2005.

Enquiries :

Genesis Investment Management LLP              Martyn Ryan
                                               Phone + 44 (0) 20 7201 7200