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: (X) 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: ( ) Other (please specify): ( ) (3). Full name of person(s) subject to the notification obligation (iii): ADVANCE DEVELOPING MARKETS FUND LTD (4). Full name of shareholder(s) (if different from 3.) (iv): NORTRUST NOMINEES LIMITED (5). Date of the transaction and date on which the threshold is crossed or reached (v): 20 February 2015 (6). Date on which issuer notified: 23 February 2015 (7). Threshold(s) that is/are crossed or reached (vi, vii): Greater than 7% (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: 2,416,426 Number of Voting rights: 2,416,426 Resulting situation after the triggering transaction: Number of shares: Direct: 2,546,878 Number of voting rights: Direct (xi): 2,546,878 Indirect (xii): n/a % of voting rights (x): Direct: 7.03% Indirect: n/a B. Qualifying Financial Instruments Resulting situation after the triggering transaction: Type of financial instrument: Subscription Shares 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 (xv, xvi) Resulting situation after the triggering transaction: Type of financial instrument: Nil Exercise price: Expiration date (xvii): Exercise/Conversion Period (xviii): Number of voting rights instrument refers to: % of voting rights (xix, xx): Nominal: Delta: Total (A + B + C): Number of voting rights: 2,546,878 % of voting rights: 7.03% (9). Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable (xxi): n/a Proxy Voting: (10). Name of the proxy holder: n/a (11). Number of voting rights proxy holder will cease to hold: n/a (12). Date on which proxy holder will cease to hold voting rights: n/a (13). Additional information: Advance Emerging Capital Ltd is investment manager to Advance Developing Markets Fund Ltd (14). Contact name: Barbara Powley (15). Contact telephone number: 020 7743 5610
23 February 2015