Notice of AGM Results

Atlantis Japan Growth Fund Ld
30 September 2005


                              COMPANY ANNOUNCEMENT


For immediate release
                                                            30th September, 2005

                       Atlantis Japan Growth Fund Limited

                      Re: Result of Annual General Meeting

The Board of Directors of Atlantis Japan Growth Fund Limited announces that at
the annual general meeting held on 29th September 2005 the following resolutions
were duly passed:

It was resolved

 1. That the Report & Accounts of the Fund for the year ended 30th April, 2005 be
    approved.

 2. In accordance with Article 83 of the articles of association of the Company,
    the following Directors retire by rotation from the Board, and are eligible
    for re-election:

    Mr. Andrew Martin Smith

    Mr. Christopher Jones

    Accordingly it is approved that Mr. Andrew Martin Smith and Mr. Christopher
    Jones be re-elected to the Board.
 3. That RSM Robson Rhodes of Anson Court, Le Route des Camps, St Martins,
    Guernsey be re-appointed as Auditors of the Fund for the year to 30th April
    2006.
 4. To authorise the Directors to fix the remuneration of the Auditors for the
    year to 30th April 2006.

    SPECIAL RESOLUTIONS
 5. The Articles of Association be amended as follows:-

From the original wording



'73 Directors' Fees


        There shall be paid to the Directors such fees for their services in the
        office of director as the Directors may determine (such fees not to
        exceed US$110,000 per annum in the aggregate). The Directors shall be
        entitled to receive such increased remuneration as may be voted to them
        by the Members in General Meeting from time to time. Such remuneration
        shall be deemed to accrue from day to day. The Directors may also be
        paid all travelling, hotel and other expenses properly incurred by them
        in attending and returning from meetings of the Directors or any
        committee of the Directors or General Meetings of the Company or in
        connection with the business of the Company.'

To

'73 Directors' Fees


        There shall be paid to the Directors such fees for their services in the
        office of director as the Directors may determine (such fees not to
        exceed GPB100,000 per annum in the aggregate). The Directors shall be
        entitled to receive such increased remuneration as may be voted to them
        by the Members in General Meeting from time to time. Such remuneration
        shall be deemed to accrue from day to day. The Directors may also be
        paid all travelling, hotel and other expenses properly incurred by them
        in attending and returning from meetings of the Directors or any
        committee of the Directors or General Meetings of the Company or in
        connection with the business of the Company.'



                              ORDINARY RESOLUTION

6. It was resolved that:


        The Company be unconditionally and generally authorised to renew its
        authority to make market purchases (as defined by The Companies
        (Purchase of Own Shares) Ordinance, 1998) of ordinary shares of 1 cent
        each in its capital subject as follows:


 a. The maximum number of ordinary shares ('Shares') hereby authorised to be
    purchased is 3,063,300 representing 14.99 per cent. of the total number of
    Shares in issue;

 b. The maximum price which may be paid for any such Shares which the Company
    contracts to purchase on any day shall be a sum equivalent to 105% of the
    average of the middle market quotation for the Shares on the Daily Official
    List of the London Stock Exchange on the five business days immediately
    preceding that day;

 c. Any purchase of Shares will be made in the market for cash at prices below
    the prevailing asset value per share;

 d. The minimum price which may be paid for such Shares is US$0.01;

The authority conferred by this Resolution shall expire at the conclusion of the
next Annual General Meeting of the Company or 12 months from the date hereof,
whichever is earlier, but not so as to prejudice the completion of a purchase
contracted before that date.

Enquiries:

Liana Johnstone

HSBC Securities Services (Guernsey) Limited

+ 44 (0) 1481 707213




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