AGM Statement

Atlantis Japan Growth Fund Ld
16 October 2006







                              COMPANY ANNOUNCEMENT





For immediate release

                                                              16th October, 2006



                      Atlantis Japan Growth Fund Limited



Re: Result of Annual General Meeting



The Board of Directors of Atlantis Japan Growth Fund Limited announces that at
the annual general meeting held on 5th October 2006 the following resolutions
were duly passed:



It was resolved



1.      That the Report & Accounts of the Fund for the year ended 30th April,
2006 be approved.



2.      In accordance with Article 83 of the articles of association of the
Company, the following Directors retire by rotation from the Board, and are
eligible for re-election:



Mr. Yoshinobu Lucien Itai



Mr. Eric Boyle



Accordingly it is approved that Mr. Yoshinobu Lucien Itai and Mr. Eric Boyle be
re-elected to the Board.



3.      In accordance with the Combined Code and AIC Code of Corporate
Governance it was proposed that both Mr. Yoshinobu Lucien Itai and Mr.
Christopher Jones offer themselves for retirement and subsequently offer
themselves for re-election.



Accordingly it is approved that Mr. Yoshinobu Lucien Itai and Mr. Christopher
Jones be re-elected to the Board.



4.      That RSM Robson Rhodes of Anson Court, Le Route des Camps, St Martins,
Guernsey be re-appointed as Auditors of the Fund for the year to 30th April
2007.



5.      To authorise the Directors to fix the remuneration of the Auditors for
the year to 30th April 2007.



6.  It was resolved that:



The Company be unconditionally and generally authorised to renew its authority
to make market purchases (as defined by The Companies (Purchase of Own Shares)
Ordinance, 1998) of ordinary shares of 1 cent each in its capital subject as
follows:



a)            The maximum number of ordinary shares ('Shares') hereby authorised
to be purchased is 3,063,300 representing 14.99 per cent. of the total number of
Shares in issue;



The maximum price which may be paid for any such Shares which the Company
contracts to purchase on any day shall be a sum equivalent to 105% of the
average of the middle market quotation for the Shares on the Daily Official List
of the London Stock Exchange on the five business days immediately preceding
that day;



Any purchase of Shares will be made in the market for cash at prices below the
prevailing asset value per share;



The minimum price which may be paid for such Shares is US$0.01;



The authority conferred by this Resolution shall expire at the conclusion of the
next Annual General Meeting of the Company or 12 months from the date hereof,
whichever is earlier, but not so as to prejudice the completion of a purchase
contracted before that date.



Enquiries:



Liana Johnstone

HSBC Securities Services (Guernsey) Limited

+ 44 (0) 1481 707213














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