Purchase of Own Securities

Baillie Gifford Japan Trust PLC
11 March 2003

                      The Baillie Gifford Japan Trust PLC

                           Purchase of Own Securities

On 11 March 2003, the Company purchased for cancellation 1,000,000 ordinary
shares at a price of 78.00p, bringing the total number of ordinary shares bought
back to 1,715,000.

There remain 61,935,000 ordinary shares in issue.



                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                   11 March 2003


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