PJF Prospect Japan

                 Prospect Japan Fund Limited (the "Company")

         (a closed-ended investment company incorporated with limited
      liability under the laws of Guernsey with registered number 28863)

         Purchase and Cancellation of the Company's own Equity Shares

                               30 December 2014

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

Trade date          Equity shares    Purchase price    Remaining Shares
                    purchased        (per share)       in Issue

30 December 2014    31,000           USD0.955952       92,452,602


Enquiries:

Northern Trust International Fund              Contact: Franczeska King
Administration Services (Guernsey) Limited     Phone:+44 (0) 1481 745918