Director Shareholding

Baillie Gifford Japan Trust PLC
6 February 2001

Schedule 11 - Notification of interests of Directors and Connected Persons.


 1. Name of Company:

    BAILLIE GIFFORD JAPAN TRUST PLC

 2. Name of Director:

    MR RICHARD BARFIELD

    Please state whether notification indicates that it is in respect of
    holding of the director named in 2 above or holding of that person's
    spouse or children under the age of 18 or in respect of a non-beneficial
    interest:

    BENEFICIAL

 3. Name of registered holder(s) and, if more than one holder, the number of
    shares held by each of them (if notified):

    ALLIANCE TRUST SAVINGS NOMINEES

 4. Please state whether notification relates to a person(s) connected with the
    director named in 2 above and identify the connected person(s):



 5. Please state the nature of the transaction. For PEP transactions please
    indicate whether general/single co PEP and if discretionary/non
    discretionary:

    BENEFICIAL

 6. Number of shares/amount of stock acquired.

    2,883

 7. Percentage of issued class:

    0.005%

 8. Number of shares/amount of stock disposed:



 9. Percentage of issued class:



10. Class of security:

    ORDINARY 5P SHARES

11. Price per share:

    171.00p

12. Date of transaction:

    01 FEBRUARY 2001

13. Date company informed:

    05 FEBRUARY 2001

14. Total holding following this notification:

    8,848

15. Total percentage holding of issued class following this notification:

    0.014%

16. Date of grant:

17. Period during which or date on which exercisable:

18. Total amount paid (if any) for grant of the option:

19. Description of shares or debentures involved: class, number: