Net Asset Value(s)

Baillie Gifford Shin Nippon PLC
20 July 2006


Baillie Gifford Shin Nippon PLC                                                                            19 July 2006

                                                                   Net Asset Value with borrowings at par       202.04p

                                                            Net Asset Value with borrowings at fair value       202.63p


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