Renewal of Buy Back Authority

Baillie Gifford Shin Nippon PLC
05 May 2004


                BAILLIE GIFFORD SHIN NIPPON PLC (THE 'COMPANY')

                         RENEWAL OF BUY BACK AUTHORITY


At the Annual General Meeting of the Company held 29 April 2004, shareholders
approved a resolution renewing the Company's authority to make market purchases
of up to 14.99 per cent of the Company's current issued share capital, being
4,587,014 shares. Such authority unless previously varied, revoked or renewed
will expire at the conclusion of the Annual General Meeting of the Company to be
held in 2005 or 28 October 2005 whichever is the earlier. Any future purchases
of shares will be made in the market for cash at not more than 5% above the
middle-market quotation for the five business days preceding the day of
purchase. No market purchases were made under the previous share buy-back
authority granted on 1 May 2003.


                                                           Baillie Gifford & Co.
                                                             Company Secretaries


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