Holding(s) in Company

Baillie Gifford Shin Nippon PLC
1 July 2002



We have today been informed that A&OT Investments Limited has transferred
686,000 Baillie Gifford Shin Nippon PLC ordinary 10p shares on 28 June 2002 to
Willards Investments Limited.

A&OT Investments Limited  now holds 2,814,000 shares in Baillie Gifford Shin
Nippon PLC, which represents 9.11% of the issued share capital of 30,900,492
shares.

Willards Investments Limited now holds 686,000 shares in Baillie Gifford Shin
Nippon PLC,  which represents 2.22% of the issued share capital of 30,900,492
shares.



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