AGM Resolutions

Baillie Gifford Japan Trust PLC
25 November 2004


                      THE BAILLIE GIFFORD JAPAN TRUST PLC

                    Annual General Meeting, 24 November 2004



At the AGM held on 24 November 2004 all resolutions were passed, including those
detailed below:

•  Shareholders voted to approve the continuance of the Company until the
   AGM to be held in respect of the year to 31 August 2005, with 99.9% of those
   voting supporting the resolution.


•  Shareholders authorised the Company to renew its share buy back
   authority.

Shareholders approved a special resolution renewing the Company's authority to
make market purchases of up to 14.99 per cent of the Company's issued share
capital, being 9,284,056 ordinary shares of 5p.

Such authority will expire at the conclusion of the AGM to be held in respect of
the year ending 31 August 2005 or 23 May 2006, whichever is earlier, unless
previously varied, revoked or renewed.

•  The Company has also obtained the power to hold bought back shares 'in
   treasury'. Such treasury shares may subsequently be either sold for cash or
   cancelled. The Directors have indicated that they would only envisage using 
   the power when the share price stands at the net asset value per share or 
   above.

                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                25 November 2004

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