BARING EMERGING EUROPE : s) in Company

TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached

Baring Emerging Europe PLC

2. Reason for the notification                                        State
                                                                     Yes/No

An acquisition or disposal of voting rights                             X

An acquisition or disposal of financial instruments which may
result in the acquisition of shares already issued to which
voting rights are attached

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification        City of London
obligation                                                Investment Management
                                                            Company Limited

4. Full name of shareholder(s) (if different from 3.)

5. Date of the transaction (and date on which the            5 January 2015
threshold is crossed
or reached if different)

6. Date on which issuer notified:                            7 January 2015

7. Threshold(s) that is/are crossed or reached:                Above 17%

8. Notified details:

A: Voting rights attached to shares

Class/type of  Situation previous    Resulting situation after the triggering
    shares             to                          transaction
 if possible     the triggering
using the ISIN     transaction
     CODE

                Number    Number    Number   Number of voting   Percentage of
                  of        of        of          rights            voting
                Shares    Voting    shares                          rights
                          Rights

                                    Direct   Direct  Indirect  Direct  Indirect

 GB0032273343  3,150,993 3,150,993 3,170,993         3,170,993          17.01%


B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

   Type of     Expiration       Exercise/        Number of voting    %of voting
  financial       date         Conversion       rights that may be     rights
 instrument                      Period          acquired if the
                                                    instrument
                                              isexercised/converted


C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments

Resulting situation after the triggering transaction

  Type of    Exercise Expiration Exercise /  Number of voting    % of voting
 financial    price      date    Conversion  rights instrument      rights
 instrument                        period        refers to

                                                               Nominal   Delta


Total (A+B+C)

Number of voting rights                 % of voting rights

3,170,993                               17.01%


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are
effectively held, if applicable:

All voting rights on all shares are controlled by City of London Investment
Management Company Limited


Proxy Voting:


10. Name of the proxy holder:                                 City of London
                                                              Investment
                                                              Management
                                                              Company Limited

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:        Ben Heatley or Christopher Weaver

15. Contact telephone    [e-mail] - 0207 711 1565OR
number :                 [e-mail] - 0207 860 8329