Purchase of Own Securities

Baillie Gifford Japan Trust PLC
17 September 2001


                     The Baillie Gifford Japan Trust PLC

                                Share Buy-Back

On 14 September 2001, the Company purchased for cancellation 100,000 ordinary
shares at a price of 114.00p.

There remain 63,650,000shares in issue.



                                                         Baillie Gifford & Co.

                                                           Company Secretaries