Holding(s) in Company

Baillie Gifford Japan Trust PLC
11 January 2006

                      The Baillie Gifford Japan Trust PLC

                        Disclosure of interest in shares





The Baillie Gifford Japan Trust PLC has today been advised that following a sale
of 163,125 Ordinary shares British Empire Securities and General Trust plc no
longer hold a notifiable interest in the Company.



                                                            Baillie Gifford & Co

                                                             Company Secretaries

                                                                 11 January 2006


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