Net Asset Value(s)

Baillie Gifford Japan Trust PLC
22 May 2007


The Baillie Gifford Japan Trust PLC                                                                         21 May 2007

                                                                    Net Asset Value with borrowings at par      227.14p

                                                             Net Asset Value with borrowings at fair value      227.34p


All Net Asset Values are calculated using closing bid market price from the London Stock Exchange


                      This information is provided by RNS
            The company news service from the London Stock Exchange