BEEP Blackrock Emg

NET ASSET VALUE + GREEK EXPOSURE UPDATE

BLACKROCK EMERGING EUROPE PLC

The unaudited net asset values for BlackRock Emerging Europe plc at close of
business on 27 July 2015 were:

343.31c  per share (US cents) - Capital only
220.44p  per share (pence sterling) - Capital only
347.66c  per share (US cents) - Including current year income
223.23p  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.

4.  As at the close of business on 27 July 2015 the Company had exposure
to three Greek securities which represented 4.57% of the NAV, made up as
follows:

National Bank of Greece ADR          1.64%
Motor Oil Hellas                     2.00%
Global X FTSE GREECE 20 ETF          0.93%

It should be noted that the National Bank of Greece holding is held via an ADR
which is traded on the New York Stock Exchange. As at 27 July the stock traded
at comparable volumes with adequate liquidity and hence the bid market price is
being used to value this stock.

The Global X FTSE GREECE 20 ETF is traded on the New York Stock Exchange. As at
27 July the stock traded at comparable volumes with adequate liquidity and
hence the bid market price is being used to value this stock.

For the holding in Motor Oil Hellas, a fair value discount has been applied to
the price as at the close of business on 26th June 2015. The Board's valuation
is based on advice from the BlackRock Pricing Committee which, given the market
closure and illiquidity for many Greek assets, is applying a fair valuation
approach for such assets. The approach considers, inter alia, the trading in a
number of proxies which gives the Committee a basis for pricing all instruments
as necessary.