Net Asset Value(s)

Genesis Emerging Markets Fund Ld
19 February 2003



                              COMPANY ANNOUNCEMENT


                     Genesis Emerging Markets Fund Limited








19th February, 2003


The Directors of Genesis Emerging Markets Fund Limited would like to announce
that the Company's Net Asset Value per share was $15.13 as at the 14th February,
2003.




Enquiries :




Genesis Investment Management Limited     Martyn Ryan

     Phone + 44 (0) 20 7201 7200



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