PJF Prospect Japan

For filings with the FCA include the annex

For filings with issuer exclude the annex



TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi



1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are                  Prospect Japan Fund Ltd
attached:ii

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights                                          X

An acquisition or disposal of qualifying financial instruments which may result
in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to
qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the       Lazard Asset Management LLC
notification obligation:iii



                                               J.P.Morgan Chase - SWIFT
                                               Mellon Trust
                                               Morgan Guaranty - Personal Custody
4. Full name of shareholder(s)                 Northern Trust Co.
 (if different from 3.):iv                     State Street Bank  - Custodian - ETC
                                               State Street Bank - Master Tr - ETC
                                               State Street Bank - Custody Master Trust
                                               US Bank NA



5. Date of the transaction and date on
which the threshold is crossed or              06 January 2015
reached: v

6. Date on which issuer notified:              07 January 2015

7. Threshold(s) that is/are crossed or         Increase from 21% to 22%
reached: vi, vii


8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type   Situation previous                Resulting situation after the triggering transaction
of           to the triggering
shares       transaction


if possible  Number          Number            Number          Number of voting        % of  voting rights x
using        of              of                of shares       rights
the ISIN     Shares          Voting
CODE                         Rights
                                               Direct          Direct xi Indirect xii  Direct  Indirect


GB00B011QL44                 20,243,439                                  20,525,944            22.202%




B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial   Expiration      Exercise/                   Number of voting             % of voting
instrument          date xiii       Conversion Period xiv       rights that may be           rights
                                                                acquired if the
                                                                instrument is
                                                                exercised/ converted.



C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments xv, xvi

Resulting situation after the triggering transaction

Type of       Exercise price Expiration     Exercise/          Number of voting rights    % of voting rights
financial                    date xvii      Conversion period  instrument refers to       xix, xx
instrument                                  xviii


                                                                                          Nominal Delta





Total (A+B+C)

Number of voting rights                              Percentage of voting rights

20,525,944                                           22.202%



9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi

Lazard Asset Management LLC controls all the voting rights held of this issuer.



Proxy Voting:

10. Name of the proxy holder:                                             N/A

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:                                        Legal & Compliance Department

15. Contact telephone number:                            0207 448 2119