Portfolio Management Changes

ATLANTIS JAPAN GROWTH FUND LIMITED (the “Company”)

(An authorised closed-ended investment company incorporated in Guernsey with registration number 30709)

Portfolio Management Changes

8 March 2016

Following a review of the management of the Company's portfolio and the marketing of the Company, the Board, the Company's investment manager, Tiburon Partners LLP ("Tiburon"), and its investment adviser, Atlantis Investment Research Corporation ("AIRC"), have agreed a number of changes which the Board believes will enhance the Company's investment performance and improve communication with existing and potential new investors.  In particular:

• Ed Merner will continue as lead portfolio manager.  However, as part of AIRC's team approach to managing the Company's portfolio, it is intended that the top 10 stock selections of Taeko Setaishi will be held in the portfolio alongside the top 10 stock selections of Ed Merner, giving shareholders the best insights from the AIRC team.  Taeko Setaishi has worked with Ed Merner since AIRC was founded in 1996 and is the lead manager of Atlantis Japan Opportunities Fund, an open-ended fund that has delivered an annualised GBP return of 17.7% over the five years ended 4 March 2016.
• The relationship between Tiburon and AIRC will be further strengthened with Tiburon's Rupert Kimber, who is based in London, assuming a greater role in representing the Company and communicating with investors in the UK.  Rupert Kimber is a partner of Tiburon and manages Tiburon Taiko Fund, the firm's long-only Japan fund.

Enquiries

Website:           http://www.atlantisjapangrowthfund.com/

Rebecca Booth

Northern Trust International Fund Administration Services (Guernsey) Limited

Tel:       [phone]