Net Asset Value(s)

Genesis Emerging Markets Fund Ld
14 January 2003



                              COMPANY ANNOUNCEMENT

                     Genesis Emerging Markets Fund Limited



14th January, 2003


The Directors of Genesis Emerging Markets Fund Limited would like to announce
that the Company's Net Asset Value per share was $15.69 as at the 7th January,
2003.




Enquiries :




Genesis Investment Management Limited        Martyn Ryan

                                             Phone + 44 (0) 20 7201 7200



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