Net Asset Value(s)

COMPANY ANNOUNCEMENT

Genesis Emerging Markets Fund Limited




6th October, 2004

The Directors of Genesis Emerging Markets Fund Limited would like to announce that the Company's Net Asset Value per
share was $28.75 as at the 30th September, 2004.


Enquiries :


Genesis Investment Management LLP       Martyn Ryan
        Phone + 44 (0) 20 7201 7200