Holding(s) in Company

Baillie Gifford Japan Trust PLC
20 April 2007





TR-1i: NOTIFICATION OF MAJOR INTERESTS IN SHARES



(1). Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

Baillie Gifford Japan Trust Plc



2. Reason for the notification (please state Yes/No):

.................



An acquisition or disposal of voting rights:

Yes



An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached:

.................



An event changing the breakdown of voting rights:

.................



Other

.................





3. Full name of person(s) subject to the notification obligation (iii):

Investec Asset Management Ltd





4. Full name of shareholder(s) (if different from 3.) (iv):

n/a



5. Date of the transaction and date on which the threshold is crossed or
reached (v):

18 April 2007



6. Date on which issuer notified:

20 April 2007



7. Threshold(s) that is/are crossed or reached:

Above 5%



8. Notified details:









A: Voting rights attached to shares



Situation previous to the Triggering transaction (vi)


Class/type of shares if possible  Number of shares                   Number of voting Rights (viii)
using the ISIN CODE


Ordinary 5p



GB0000485838                      2,775,056                          2,775,056







Resulting situation after the triggering transaction (vii)


Class/type of shares if      Number of shares         Number of voting rights (ix)      % of voting rights
possible using the ISIN CODE
                             Direct                   Direct (x)   Indirect (xi)        Direct      Indirect


Ordinary 5p



GB0000485838                 n/a                                   3,250,056                        5.25









B: Financial Instruments

Resulting situation after the triggering transaction (xii)


Type of         Expiration Date       Exercise/Conversion       Number of voting rights     % of voting rights
financial       (xiii)                Period/ Date (xiv)        that may be acquired if the
instrument                                                      instrument is exercised/
                                                                converted.


n/a





Total (A+B)
Number of voting rights        % of voting rights


3,250,056                      5.25





9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable (xv):


n/a





Proxy Voting:



10. Name of the proxy holder:

n/a



11. Number of voting rights proxy holder will cease to hold:

n/a



12. Date on which proxy holder will cease to hold voting rights:

n/a



13. Additional information:

n/a



14. Contact name:

Lynn Mathewson



15. Contact telephone number:

0131 275 3185






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