AGM Statement

Baillie Gifford Japan Trust PLC
27 November 2002

                      THE BAILLIE GIFFORD JAPAN TRUST PLC

                    Annual General Meeting, 27 November 2002



At the AGM held today, 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 ending 31 August 2003. A total of
    24,327,044 votes were cast, representing 38.7% of the Company's issued share
    capital, with 98.7% 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 9,433,956 ordinary shares of 5p.

Such authority will expire at the conclusion of the AGM to be held in 2003 or 26
May 2004, whichever is earlier, unless previously varied, revoked or renewed.


                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                27 November 2002




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