TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: Genesis
Emerging Markets Fund Limited

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: City of London Investment Management Company Limited


4. Full name of shareholder(s):

5. Date of the transaction and date on which the threshold is crossed or reached: 29 May, 2009

6. Date on which issuer notified:2 June, 2009

7. Threshold(s) that is/are crossed or reached: 13 %

8. Notified details:

A: Voting rights attached to shares

Class/type of shares (if possible using the ISIN CODE)GB0003678025

Situation previous to the triggering transaction

Number of Shares:1,692,095

Number of Voting Rights:1,692,095

Resulting situation after the triggering transaction

Number of shares

Direct: N/A

Number of voting rights

Direct:

Indirect:11,776,395

% of  voting rights

Direct:

Indirect:13.16%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/Conversion Period

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

Exercise/Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta


Total (A+B+C)

Number of voting rights: 1,692,095

Percentage of voting rights: 13.16%


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

All Voting Rights on all Shares are controlled by City of London Investment Management Limited.

Proxy Voting:

10. Name of the proxy holder: City of London Investment Management Company Limited

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:

14. Contact name:Jay McKenna or Mike Sugrue

15. Contact telephone number:Jay.McKenna@Citlon.com - 001-610-380-0121 OR Michael.Sugrue@citlon.co.uk - 0207 860 8340