Result of Meetings

Atlantis Japan Growth Fund Ld
27 September 2000



       NOT FOR RELEASE INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN

       
                     Atlantis Japan Growth Fund Limited

                     Re: Outcome of annual general meeting

The Board of Directors of Atlantis Japan Growth Fund Limited announces that at
the annual general meeting held earlier today the following resolutions were
duly passed:

1.   To receive the Report & Accounts of the Fund for the year ended 30th
     April, 2000.

2.   To re-elect William Brown & Peter Irving as Directors of the Fund.

3.   To confirm that RSM Robson Rhodes of Albert House, South Esplanade, St.
     Peter Port, Guernsey be re-appointed as Auditors of the Fund for the year  
     to 30th April 2001.

4.   To authorise the Directors to fix the remuneration of the Auditors for the
     year to 30th April 2001.

   Re: Outcome of extraordinary general meeting and meeting of warrant holders

The Board of Directors of Atlantis Japan Growth Fund Limited announces that, at
the extraordinary general meeting and the meeting of warrant holders held
earlier today, the resolutions authorising the Fund to repurchase its own shares
on-market and approving a capital reduction to enable it to do so were duly
passed. The capital reduction, which is subject to the approval of the Royal
Court of Guernsey, is expected to become effective on 13th October.

Enquiries:

Peter Irving
Director
Atlantis Japan Growth Fund Limited
Tel: [phone]

Paul Fincham 
Head of Corporate Finance 
SG Country Funds (a division of SG Securities (London) Limited, regulated by the
Securities and Futures Authority)
Tel: [phone]