Net Asset Value(s)

Genesis Emerging Markets Fund Ld
04 April 2003



                              COMPANY ANNOUNCEMENT


                     Genesis Emerging Markets Fund Limited








4th April, 2003


The Directors of Genesis Emerging Markets Fund Limited would like to announce
that the Company's Net Asset Value per share was $14.96 as at the 31st March,
2003.




Enquiries :




Genesis Investment Management Limited     Martyn Ryan

     Phone + 44 (0) 20 7201 7200



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