Holding(s) in Company

Atlantis Japan Growth Fund Ld
16 November 2004



                              COMPANY ANNOUNCEMENT
For immediate release

                                                              16th November 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:          25,000 Ordinary Shares


Beneficial Owner:               Yale University


Resultant Holding:              610,995


Percentage of Share Capital:     2.99%


Yale University no longer has a notifiable interest in the Company.


Enquiries:


Tamsin Hooton

Management International (Guernsey) Limited

+ 44 (0) 1481 707088




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