Holding in Company

Atlantis Japan Growth Fund Ld
18 October 2001



The Board of Directors of the Company wish to announce that there has been an 
increase in Merchant Investors Assurance Company Limited's notifiable interest.

Following the acquisition of 220,000 shares on 11th October 2001 Merchant 
Investors Assurance Company Limited now hold in total 934,905 shares, which 
represents an increase in their notifiable interest from 3.571% to 4.671% of the
shares in issue.

Enquiries:

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