51WQ Baring 'a'rts

RNS Number:7847F
Baring Emerging Europe Trust PLC
3 January 2003

The liquidators of The Baring Emerging Europe Trust PLC (in liquidation) (the
"Company") announce that the full amount due to each warrant holder that elected
for a cash distribution pursuant to the scheme of reconstruction of the Company
under section 110 of the Insolvency Act 1986 (the "Scheme") has been
distributed. Cheques were posted to those warrant holders on 23 December 2002 as
indicated in the reconstruction proposals.

As at 2 January 2003 approximately 54% of the portfolio that comprises the
Liquidation Pool (as defined in the Scheme) had been realised. An initial cash
distribution of US$1.00 per B Share (as defined in the Scheme) is expected to be
distributed on 13 January 2003 to those ordinary shareholders that elected to
receive cash under the Scheme, pro rata to their respective shareholdings on the
effective date of the Scheme. The precise timing of subsequent distributions to
those shareholders will depend upon the progress of the liquidation.

Enquiries:
 
Michael Denison      PricewaterhouseCoopers        020 7212 6360

Michael Nokes        Baring Asset Management       020 7762 8405
 



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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