PROSPECT JAPAN FUND LD - Holding(s) in Company

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                      Prospect Japan Fund Ltd
issuer of existing shares to which voting rights
are 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                      Permal Investment Holdings N.V.
the notification obligation: iii

4. Full name of shareholder(s)            BNY Mellon (FBO Permal Investment Holdings N.V)
(if different from 3.):iv

5. Date of the transaction and date                                       30 January 2015
on which the threshold is crossed or reached: v

6. Date on which issuer notified:                                        03 February 2015

7. Threshold(s) that is/are crossed                                                    5%
or reached: vi, vii



8. Notified details:

A: Voting rights attached to shares viii, ix

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

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

GB00B011QL44 4,928,572  4,928,572               4,178,572          4.52%


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   rights that may be   rights
                             xiv                 acquired if the
                                                 instrument is
                                                 exercised/
                                                 converted.

N/A

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

Resulting situation after the triggering transaction

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

N/A                                                               Nominal    Delta

Total (A+B+C)

Number of voting rights                 Percentage of voting rights

4,178,572                               4.52%


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

Permal Investment Holdings NV (4,178,572 shares and voting rights of 4.52% -
down from 9.97% at the time of the last filing).

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:

                                       The change in percentage of voting
13. Additional information:            rights is due to Permal Investment
                                       Holdings NV ("PIH") selling 750,000
                                       shares, which caused PIH's ownership to
                                       decrease from 5.33% (representing a
                                       holding of 4,982,572 shares) to 4.52%
                                       (representing a holding of 4,178,572
                                       shares).

14. Contact name:                      Glyn Clark

15. Contact telephone number:          [phone]