Net Asset Value(s)

Baillie Gifford Shin Nippon PLC
09 July 2007


Baillie Gifford Shin Nippon PLC                                                                             6 July 2007

                                                                Net Asset Value with borrowings at par          200.94p

                                                         Net Asset Value with borrowings at fair value          201.29p


All Net Asset Values are calculated using closing bid market prices


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