Statement re. Ten Largest Investments

COMPANY ANNOUNCEMENT

                      Genesis Emerging Markets Fund Limited

                             Ten Largest Investments


1st July, 2005


The Directors of the Genesis Emerging Markets Fund Limited announce that the
following were the ten largest holdings as at 30th June 2005:

Genesis Chile Fund
New Century Holdings
Orascom
Sasol
PT Telkomunikasi
Kookmin Bank
Samsung Electronics
Femsa
KT&G
Taiwan Semiconducter Co.

There were no other holdings of more than 5% of the portfolio

Enquiries:

Genesis Investment Management LLP     Charles Zorab
                                      Phone [phone]