Holding(s) in Company

Baillie Gifford Japan Trust PLC
21 April 2008



TR-1: Notifications of Major Interests in Shares



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

Baillie Gifford Japan Trust PLC



2. Reason for the notification

(please place an X inside the appropriate bracket/s):



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 (please specify) : yes

Exemption DTR 5.1.5 (1)



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

The Goldman Sachs Group, Inc.



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

Goldman, Sachs & Co.,

Goldman Sachs International



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

16 April 2008



6. Date on which issuer notified:

18 April 2008



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

4%




8. Notified Details:



A: Voting rights attached to shares


Class/type of shares if possible  Situation previous to the triggering transaction
use ISIN CODE
                                  Number of shares                   Number of voting rights

                                                                     Below 3%

GB0000485838






                              Resulting situation after the triggering transaction
Class/type of shares if       Number of shares          Number of voting rights               % of voting rights
possible use ISIN CODE
                              Direct                    Direct         Indirect               Direct       Indirect

                                                        1,494,438       1,274,750             2.41%         2.06%
GB0000485838





B: Financial Instruments

Resulting situation after the triggering transaction


Type of         Expiration date      Exercise/conversion       No. of voting rights that   % of voting rights
financial                            period/date               may be acquired (if the
instrument                                                     instrument exercised/
                                                               converted)





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


2,769,188                      4.47%



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


The interest in 1,274,750 shares arose from an interest held by Goldman, Sachs & Co., a wholly-owned direct subsidiary
of GS Inc, acting as custodian for its customers.  These shares are, or will be, registered in the name of Goldman
Sachs Securities (Nominees), Limited.


The interest in 1,494,438 shares arose from a beneficial interest held by Goldman Sachs International, a wholly-owned
indirect subsidiary of GS Inc.  These shares are, or will be, registered at CREST in account CREPTEMP.



Proxy Voting:



10. Name of 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:

General email contact:

[e-mail]



14. Contact name:

Lynn Mathewson



15. Contact telephone number:

0131 275 3185




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            The company news service from the London Stock Exchange   D

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