Director Shareholding

Baillie Gifford Japan Trust PLC
18 September 2002

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

 1. Name of Company:

The Baillie Gifford Japan Trust PLC

 2. Name of Director:

Mr Richard Barfield

 3. 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

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

Henderson Nominees Limited

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

Mrs Alison Helen Barfield

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

N/A

 7. Number of shares/amount of stock acquired.

3,316

 8. Percentage of issued class:

0.005%

 9. Number of shares/amount of stock disposed:

N/A

10. Percentage of issued class:

N/A

11. Class of security:

Ordinary 5p Shares

12. Price per share:

120.00p

13. Date of transaction:

07 December 2001

 1. Date company informed:

18 September 2002

 2. Total holding following this notification:

12,164

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

0.019%

 4. Contact:

Simon Marriott, Baillie Gifford & Co., 0131 222 4076










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