Interim Results

Atlantis Japan Growth Fund Ld
22 January 2002

ATLANTIS JAPAN GROWTH FUND LIMITED 
INTERIM PRELIMINARY ANNOUNCEMENT

THE BOARD OF DIRECTORS OF THE ATLANTIS JAPAN GROWTH FUND LIMITED ANNOUNCE
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31ST OCTOBER, 2001:


                                                           2001          2000
                                                            US$           US$

TOTAL NET ASSETS                                    209,455,655   240,644,838 

INTEREST INCOME/TURNOVER                              1,125,911     1,476,914 

NET INVESTMENT DEFICIT                              (1,239,357)   (1,684,642) 

DIVIDEND PAID                                               N/A           N/A 

DIVIDEND PROPOSED                                           N/A           N/A

NET ASSET VALUE PER ORDINARY                             $10.25        $12.02 
SHARE

DILUTED NET ASSET VALUE PER                              $10.25        $12.38 
ORDINARY SHARE

DEFICIT PER ORDINARY SHARE                             ($0.061)      ($0.084)


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