Holding(s) in Company

RNS Number : 4413V

Baillie Gifford Japan Trust PLC

28 May 2008

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Baillie Gifford Japan Trust PLC

2. Reason for the notification

An acquisition or disposal of voting rights: Yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached:

An event changing the breakdown of voting rights:

Other (please specify) :

3. Full name of person(s) subject to notification obligation:

The Goldman Sachs Group, Inc.

4. Full name of shareholder(s) (if different from 3) :

Goldman, Sachs & Co.

5. Date of transaction (and date on which the threshold is crossed or reached if different):

22 May 2008

6. Date on which issuer notified:

27 May 2008

7. Threshold(s) that is/are crossed or reached:

8. Notified Details:

A: Voting rights attached to shares

Class/type of shares if possible use ISIN CODE

Situation previous to the triggering transaction

GB0000485838

Number of shares

2,367,610

Number of voting rights

3.82%

	Resulting situation after the triggering transaction
Class/type of shares if possible use ISIN CODE	Number of shares	Number of voting rights		% of voting rights
GB0000485838	Direct	Direct	Indirect 2,724,750	Direct	Indirect 4.40%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument	Expiration date	Exercise/conversion period/date	No. of voting rights that may be acquired (if the instrument exercised/ converted)	% of voting rights

Total (A+B)

Number of voting rights	% of voting rights
2,724,750	4.40%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable :

The interest in 2,724,750 shares arose from an interest held by Goldman, Sachs & Co., a wholly-owned direct subsidiary of GS Inc, acting as custodian for its customers. These shares are, or will be, registered in the name of Goldman Sachs Securities (Nominees), Limited.

Proxy Voting:

10. Name of proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

N/A

14. Contact name:

Lynn Mathewson

15. Contact telephone number: