Directors' Notification of Dealing in Shares

Atlantis Japan Growth Fund Ld
3 April 2000

The Directors wish to announce that Mr Christopher Jones ( a Director of the
Company) has purchased Warrants in the above mentioned Company.

Mr Jones purchased 5,000 Warrants at $2.70 each on the 30th March, 2000. The
purchase was made through his self invested pension scheme at Merchant Investors
Assurance. Mr Jones has a beneficial interest in the shares which are held in
the name of Merchant Investors Assurance.

Enquiries:

Management International (Guernsey) Limited          Julian Carey
                                                     Phone [phone]