Net Asset Value(s)

Baillie Gifford Japan Trust PLC
21 July 2006


The Baillie Gifford Japan Trust PLC                                                                        20 July 2006

                                                                   Net Asset Value with borrowings at par       231.67p

                                                            Net Asset Value with borrowings at fair value       232.47p


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