Holding(s) in Company

Atlantis Japan Growth Fund Ld
14 April 2004





                              COMPANY ANNOUNCEMENT



For immediate release

                                                                 14th April 2004

                       Atlantis Japan Growth Fund Limited

                 Re: Section 198 Companies Act 1985 as amended

The Board of Directors of Atlantis Japan Growth Fund Limited announce that
pursuant to Section 198 Companies Act 1985:

Interested Person:             Asset Value Investors Limited

Number of Shares Sold:         50,000 Ordinary Shares

Registered Name:               Nortrust Nominees

                               Chase Nominees

Resultant Holding:             1,206,486

Percentage of Share Capital:   5.9%

Enquiries:

Tamsin Hooton

Management International (Guernsey) Limited

+ 44 (0) 1481 707088


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