PJF Prospect Japan

RNS Number:2172X
Prospect Japan Fund Ld
24 May 2007


                                                                 24 May 2007

                        THE PROSPECT JAPAN FUND LIMITED

                        Results of Annual General Meeting

At the Annual General Meeting held on 23 May 2007, all Ordinary Resolutions and
the following Special Resolutions were passed;

Resolution 1

IT WAS RESOLVED to consider and approve that the Company, be and is hereby
generally and unconditionally authorised in accordance with The Companies
(Purchase of Own Shares) Ordinance, 1998 to make purchases as defined in that
Ordinance of its Ordinary Shares of US$0.01 each ("Shares"), provided that:-

(i)      the maximum number of Shares hereby authorised to be purchased shall be
9,285,950 being equivalent to no more than 9.05% of the Company's issued share
capital at the date of this notice;

(ii)    the minimum price (exclusive of expenses) which may be paid for a Share
is US$0.01, being the nominal value per share;

(iii)   the maximum price (exclusive of expenses) which may be paid for a Share
is an amount equal to 105 per cent. of the average of the middle market
quotations for a Share taken from the London Stock Exchange Daily Official List
for the 5 business days immediately preceding the day on which the Share is
purchased;

(iv)  purchases may only be made pursuant to this authority if the Shares are
(at the date of the proposed purchase) trading on the London Stock Exchange at a
discount to the lower of the undiluted or diluted Net Asset Value;

(v)    the authority hereby conferred shall expire at the conclusion of the
Annual General Meeting of the Company in 2008 or, if earlier, on the expiry of
12 months from the passing of this resolution, unless such authority is renewed
prior to such time; and

(vi) the Company may make a contract to purchase Shares under the authority
hereby conferred prior to the expiry of such authority which will or may be
executed wholly or partly after the expiration of such authority and may make a
purchase of Shares pursuant to any such contract.


Resolution 2


IT WAS RESOLVED to approve an increase in the maximum level of aggregate fees
payable to the Directors by replacing 'US$100,000' with '#150,000' in Article 80
(1) of the Articles of Association of the Company.

All Enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Tel: 01481 745342




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

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