RNS Number:0367U
Metage Special Emerging Markets Fnd
08 January 2004


The Metage Special Emerging Markets Fund Limited announces that at the close of
business on the 31st of December, 2003 :-

The Undiluted estimated NAV per ordinary share was USD 51.09.

The Fully Diluted estimated NAV per ordinary share was USD 45.32.

The next NAV produced will be for close of business on 9th January, 2004.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
NAVUUUWPGUPCGRR