ATLANTIS JAPAN GROWTH FUND LIMITED ("AJGF" or the "Company")          
     (A closed-ended investment company incorporated in Guernsey with registration 
                                     number 30709)                                 

                               Transaction in Own Shares                           
                                    26 January 2017                                

    The Company announces that on 25 January 2017 it purchased 100,000 ordinary
    shares of no par value in the capital of the Company at a price of GBP 1.5125
    per share.  These shares will be held as treasury shares. 

    Following this purchase, the total number of shares in issue of the Company
    will be as follows:

    Total number of treasury shares held by the  Number of shares in issue less shares held
    Company following the purchase referred to   in treasury following the purchase        
    above                                        referred to above                         
                                                                                           
    3,464,186 Treasury Shares                    45,124,358 Ordinary Shares                

    From 25 January 2017, the total number of voting rights in the Company is
    45,124,358.

    Enquiries:
    Northern Trust International Fund Administration Services (Guernsey) Limited
    Tel:       +44 (0) 1481 745498
    Email:   TS236@ntrs.com