Holding(s) in Company

Atlantis Japan Growth Fund Ld
11 March 2004

                              COMPANY ANNOUNCEMENT

For immediate release
                                                                 11th March 2004


                       Atlantis Japan Growth Fund Limited

                 Re: Section 198 Companies Act 1985 as amended

The Board of Directors of Atlantis Japan Growth Fund Limited announce that
pursuant to Section 198 Companies Act 1985:

Interested Person: Asset Value Investors Limited

Number of Shares Sold: 185,000

Registered Name: Nortrust Nominees

Chase Nominees

Resultant Holding: 1,776,486

Percentage of Share Capital: 8.69%

Enquiries:

Tamsin Hooton

Management International (Guernsey) Limited

+ 44 (0) 1481 707088


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