AEMC.L Regulatory News (AEMC)

For filings with the FSA include the annex

For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Advance Developing Markets Fund Ltd

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 thenotification obligation: iii

City of London Investment Management Company Limited

4. Full name of shareholder(s)  (if different from 3.):iv

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

30 November, 2012

6. Date on which issuer notified:

5 December, 2012

7. Threshold(s) that is/are crossed orreached: vi, vii

26 %

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GG00B45L2K95

19,556,818

19,556,818

19,647,358

19,647,358

26.03 %

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

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

Percentage of voting rights

19,647,358

26.03 %

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

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 ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

RNS Number : 1148S

Advance Developing Markets Fund Ltd

27 November 2012

The NAV per ordinary share figure is based on 75,468,954 ordinary shares (excluding shares held in treasury) in issue on the above date

14. Contact name:

Jay McKenna or Chris Weaver

15. Contact telephone number:

Jay.McKenna@Citlon.com - 001-610-380-0121 OR

Christopher.Weaver@Citlon.co.uk - 0207 860 8329