AGM Statement

Baillie Gifford Japan Trust PLC
24 November 2000


                     THE BAILLIE GIFFORD JAPAN TRUST PLC

                       Continuation vote passed at AGM

        Investment Week Investment Trust of the Year Japan Award 2000

                               24 November 2000



Annual General Meeting, 24 November 2000

At the AGM held today, all resolutions were passed, including those detailed
below.

  * Shareholders voted to approve the continuance of the Company with 99.5%
    of those voting supporting the resolution.
  * Shareholders also approved the sub-division of each of the Company's
    existing ordinary shares of 25p each into five ordinary shares of 5p each.
  * Shareholders authorised the Company to renew the share buy back
    authority.

Following the passing of the share split resolution, the Company also
announces that application has been made to the UK Listing Authority for
admission of 63,750,000 ordinary shares of 5p each to the Official List and to
the London Stock Exchange for trading of those shares on the market for listed
securities of the London Stock Exchange. It is expected that dealings in the
new shares will commence at 8:00am on Monday 27 November 2000.

Malcolm Murray, Chairman, The Baillie Gifford Japan Trust PLC, says,

'Shareholders have recognised the excellent long term performance of Baillie
Gifford Japan by voting overwhelmingly for the Company's continuation.'



 The Baillie Gifford Japan Trust PLC aims to pursue long-term capital growth
principally through investment in medium to smaller sized Japanese companies.
It is the top performing Trust in its sector* over the three and five year
periods to 31 October 2000. This strong performance is recognised by the Trust
winning the Investment Week Investment Trust of the Year Japan Award.

The Company is managed by Baillie Gifford & Co., the leading independent
Edinburgh based fund management group with over £22 billion funds under
management and advice.

 * Source: AITC (Japan sector)



For further information please contact:

Gill Meekison, Director,

Baillie Gifford & Co                              0131 222 4000

Mike Lord, Director,

Broadgate Marketing,                              0171 726 6111

Baillie Gifford & Co. is regulated by IMRO.