RNS Number:2454O
Prospect Japan Fund Ld
29 June 2005


                              COMPANY ANNOUNCEMENT


For Immediate Release                                              29 June 2005


                   THE PROSPECT JAPAN FUND LIMITED ("the Fund")


         Re: Purchase and Cancellation of the Fund's own equity shares

The Directors wish to announce the following purchase for cancellation of the
Fund's own equity shares;

Trade date        Equity shares            Purchase        Remaining Shares in
                   purchased                price           Issue
29 June 2005       150,000                 USD1.62         105,359,520



Enquiries:
Guernsey International Fund Managers Limited      Contact: Mr Douglas Mackay
                                                  Phone: (+44 1481) 745339




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
POSILFFDRDIAFIE

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