Holding in Company

Govett Emerging Markets Inv Tst PLC
3 November 2000

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     GOVETT EMERGING MARKETS INVESTMENT TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     LAKE ASSET MANAGEMENTS LTD
     ON BEHALF OF THE METAGE SPECIAL
     EMERGING MARKETS FUND LTD

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     AS IN 2

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

      NOT ADVISED

5)   Number of shares/amount of stock acquired.

     1,023,257

6)   (2.86%) of issued Class

7)   Number of shares/amount of stock disposed

        -

8)   ( N/A %) of issued Class

9)   Class of security

      ORDINARY 10P SHARES

10)  Date of transaction

     2.11.00

11)  Date company informed

      2.11.00

12)  Total holding following this notification

      1,123,257
               
              
13)  Total percentage holding of issued class following this notification

      3.14%

14)  Any additional information

      -

15)  Name of contact and telephone number for queries

      ELIZABETH DUCIE
      020 79405737

16)  Name and signature of authorised company official responsible for 
     making this notification


     Date of Notification ..2.11.00....