Director Shareholding

Atlantis Japan Growth Fund Ld
23 November 2000

                    
                    Atlantis Japan Growth Fund Limited
                    Re: Reduction of Director's Interest

The Directors wish to announce that Mr. Peter Irving (a Director of the Company)
has sold 1,138 shares in the above mentioned Company which represents 0.006% of
the issued share capital.  Accordingly Mr. Irving's interest is now 3,339 which
represents 0.017%


Enquiries:

Management International (Guernsey) Limited         Julian Carey
                                                    Phone:  [phone]