Net Asset Value(s)

Baillie Gifford Shin Nippon PLC
13 March 2008


Baillie Gifford Shin Nippon PLC                                                                           12 March 2008

                                                             Net Asset Value with borrowings at par             134.89p

                                                      Net Asset Value with borrowings at fair value             134.00p


All Net Asset Values are calculated using closing bid market prices


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