PJF Prospect Japan

                        THE PROSPECT JAPAN FUND LIMITED

 (a closed-ended investment company incorporated in Guernsey with registration
                                 number 28863)

        FUND NAME                 NAV          SEDOL           NAV DATE

 The Prospect Japan Fund        $1.2257       B011QL4       27th March 2015
         Limited


Date: 27th March 2015

Note: The Fund's NAV above includes a holding in Prospect Co. of Yen 1,500
million convertible bonds (valued at par) and 5.772 million ordinary shares
(valued at a price of Yen 75 per share) with Yen 1,500 million convertible
bonds having been converted, following the initial conversion date of 5 January
2015, and 19.228 million ordinary shares arising sold. The convertible bonds
can be convertible, at the option of the Fund, into shares of Prospect Co. at a
price of Yen 60 per Prospect Co. share at any time prior to the redemption date
of 25 May 2020.

Enquiries:
Northern Trust International Fund Administration Services (Guernsey) Limited
Harry Rouillard 44 (0)1481 745315