RNS Number:0618I
Baring Emerging Europe Trust PLC
27 February 2003


                               Second Distribution


The Joint Liquidators of The Baring Emerging Europe Trust PLC (in liquidation)
(the "Company") announce that pursuant to the scheme of reconstruction of the
Company under section 110 of the Insolvency Act 1986 (the "Scheme") a second 
cash distribution of $1.935 per B Shares (as defined in the Scheme) will be paid 
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, 
on 28 February 2003. 

A final small distribution per share is expected to be paid at the end of the 
liquidation, which is likely to be 2004, subject to no claims being received in 
the liquidation period.


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