Holding(s) in Company

Atlantis Japan Growth Fund Ld
06 July 2004



                              COMPANY ANNOUNCEMENT

For immediate release
                                                                   6th July 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:           100,000 Ordinary Shares

Registered Name:                 Nortrust Nominees 635,995 shares

                                 Chase Nominees 305,741 shares

Resultant Holding:               941,736

Percentage of Share Capital:     4.61%

Enquiries:

Tamsin Hooton
Management International (Guernsey) Limited
+ 44 (0) 1481 707088


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