Net Asset Value(s)

Genesis Emerging Markets Fund Ld
20 November 2002

                              COMPANY ANNOUNCEMENT

                     Genesis Emerging Markets Fund Limited


20th November, 2002


The Directors of Genesis Emerging Markets Fund Limited would like to 
announce that the Company's Net Asset Value per share was $15.04 as at 
the 15th November, 2002.


Enquiries :


Genesis Investment Management Limited   Martyn Ryan

Phone + 44 (0) 20 7201 7200



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