Hi, I'm 5ft 2" and ride a Specialized Tricross which is a bit above your budget. I have a 5ft friend who rides an Isla bike - they are childrens bikes but you wouldn't know it. They're built to a very, very high spec. My friend has done loaded tours across Europe on hers, only problem is that they're internet order or you have to go to Ludlow to try them.
Other option could be a hybrid like a Specialized Vita. Another short friend of mine went to Paris and back on one of these.