Net Asset Value(s)

Genesis Emerging Markets Fund Ld
03 October 2002



                              COMPANY ANNOUNCEMENT

                     Genesis Emerging Markets Fund Limited


3 October, 2002

The Directors of Genesis Emerging Markets Fund Limited would like to announce
that the Company's Net Asset Value per share was $14.29 as at the 30th
September, 2002.



Enquiries :

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



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