BLACKROCK EMERGING EUROPE PLC - Net Asset Value(s)

NET ASSET VALUE

BLACKROCK EMERGING EUROPE PLC

The unaudited net asset values for BlackRock Emerging Europe plc at close of
business on 5 January 2015 were:

342.33c per share (US cents) - Capital only
224.64p per share (pence sterling) - Capital only
349.51c per share (US cents) - Including current year income
229.35p per share (pence sterling) - Including current year income

Notes:

1. Investments have been valued on a bid price basis.

2. Revenue items included in net asset value.

3. The Company's share capital consists of 36,242,928 Ordinary shares
(excluding 5,400,000 ordinary shares held in treasury) carrying one vote each.