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