Net Asset Value(s)

Genesis Emerging Markets Fund Ld
05 December 2002



                              COMPANY ANNOUNCEMENT


                     Genesis Emerging Markets Fund Limited





5th December, 2002


The Directors of Genesis Emerging Markets Fund Limited would like to announce
that the Company's Net Asset Value per share was $15.64 as at the 29th November,
2002.




Enquiries :




Genesis Investment Management Limited        Martyn Ryan

                                             Phone + 44 (0) 20 7201 7200



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