Holding(s) in Company

Baillie Gifford Japan Trust PLC
27 September 2005


                      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 75,000 Ordinary shares on 26 September 2005 British Empire Securities and
General Trust plc now holds 3,063,797 ordinary shares in the Company, which
equates to 4.95% of the 61,935,000 shares in issue.


                                                            Baillie Gifford & Co
                                                             Company Secretaries
                                                               27 September 2005


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