Resignation of Directors

COMPANY ANNOUNCEMENT

Genesis Emerging Markets Fund Limited

15th March 2006

The Directors of Genesis Emerging Markets Fund Limited announce that Mr Masood Akbar and Mr John Clay have both retired
from the Board.  Both had been members of the Board since inception of the Fund in 1989.  The Chairman of the Fund, Mr
Coen Teulings, said "I would like to pay tribute to the tremendous contribution made by Masood and John on behalf of
shareholders over the many years which they have served on the Board.

Enquiries:

Genesis Investment Management LLP:      Charles Zorab
                                                Tel: [phone]