Six Mths Rslts to 31 Oct 2000

Atlantis Japan Growth Fund Ld
9 January 2001


The Board of Directors of the Atlantis Japan Growth Fund Limited announce
results for the six months ended 31st October, 2000:

                                                  2000               1999
                                                   US$                US$
Total Net Assets                           240,644,838        301,642,898

Dividend and Interest Income                 1,476,914            941,943

Dividend Proposed                                  N/A                N/A

Net Asset Value per Ordinary Share               12.02              15.08

Earnings per Ordinary Share                     (0.084)           (0.063)

Dividend per Ordinary Share                        N/A               N/A