ESTS Blackrock Sub

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 (ii):

BlackRock Emerging Europe plc

(2). Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights: ( )

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

An acquisition or disposal of instruments with similar economic effect to
qualifying financial instruments ()

An event changing the breakdown of voting rights: (X)

Other (please specify): ()

(3). Full name of person(s) subject to the notification obligation (iii):

BGF Emerging Europe Fund - Emerging European Markets Portfolio

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

(5). Date of the transaction and date on which the threshold is crossed or
reached (v):

26th July 2013

(6). Date on which issuer notified:

31st July 2013 after cob

(7). Threshold(s) that is/are crossed or reached (vi, vii):

Holding has gone below 8%

(8). Notified details:

A: Voting rights attached to shares (viii, ix)

Class/type of shares (if possible using the ISIN code): GB00B0BN1P96

Situation previous to the triggering transaction:
Number of Shares: 3,174,249
Number of Voting rights: 3,174,249

Resulting situation after the triggering transaction:
Number of shares:
Direct: 2,865,713
Number of voting rights:
Direct (xi): 2,865,713
Indirect (xii):

% of voting rights (x):
Direct: 7.91%
Indirect: N/A

B. Qualifying Financial Instruments

Resulting situation after the triggering transaction:

Type of financial instrument:

Expiration date (xiii):

Exercise/Conversion Period (xiv):

Number of voting rights that may be acquired if the instrument is exercised/
converted:

% of voting rights:

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

Resulting situation after the triggering transaction:

Type of financial instrument:

Exercise price:

Expiration date (xvii):

Exercise/Conversion period (xviii):

Number of voting rights instrument refers to:

% of voting rights (xix):
Nominal:

Delta:

Total (A + B +C):

Number of voting rights: 2,865,713

% of voting rights: 7.91%

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

Proxy Voting:

(10). Name of the proxy holder:

(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: BlackRock International Threshold Reporting Team

(14). Contact name:

K V Higgins

(15). Contact telephone number:

020 7743 1089

1 August 2013