NET ASSET VALUE

BLACKROCK EMERGING EUROPE PLC

The unaudited net asset values for BlackRock Emerging Europe plc at close of
business on 16 January 2014 were:

475.05c per share (US cents) - Capital only
290.64p per share (pence sterling) - Capital only
480.79c per share (US cents) - Including current year income
294.15p 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.