Purchase of Own Securities

Baillie Gifford Japan Trust PLC
16 January 2002

                     The Baillie Gifford Japan Trust PLC

                          Purchase of Own Securities

On 15 January 2002, the Company purchased for cancellation 75,000 ordinary
shares at a price of 101.00p, bringing the total number of ordinary shares
bought back to 175,000.

There remain 63,575,000 ordinary shares in issue.



                                                         Baillie Gifford & Co.

                                                           Company Secretaries

                                                               16 January 2002