Director/PDMR Shareholding

1 September 2010

JAPAN RESIDENTIAL INVESTMENT COMPANY LIMITED

(the "Company")

Director and Investment Adviser Dealings

Japan Residential Investment Company Limited (AIM: JRIC), an authorised closed-ended investment company incorporated in Guernsey and established to make and hold investments in residential property in Japan, has been notified of the following share dealings.

On 27 August 2010, James Fink, Senior Managing Director of K.K. Halifax Asset Management ("K.K. Halifax"), the Company's Investment Adviser, notified the Company that he had acquired 60,000 ordinary shares of 10p each in the Company ("Ordinary Shares"), representing 0.03 per cent. of the Company's issued share capital. Mr Fink acquired 50,000 Ordinary Shares at 47p per Ordinary Share on 24 August 2010 and 10,000 Ordinary Shares at 46p per Ordinary Share on 25 August 2010. Prior to this Mr Fink held no shares in the Company.

On 31 August 2010, Alec Menikoff, Managing Director of K.K. Halifax, notified the Company that he had acquired 10,000 Ordinary Shares at 47p per Ordinary Share on 27 August 2010, representing 0.01 per cent. of the Company's issued share capital. Prior to this Mr Menikoff held no shares in the Company.

On 30 August 2010, Paul Hammerstad, a non-executive director of the Company, notified the Company that he had acquired 30,000 Ordinary Shares, representing 0.02 per cent. of the Company's issued share capital; 26,000 Ordinary Shares at 48.5p per Ordinary Share on 20 August 2010 and 4,000 Ordinary Shares at 46p per Ordinary Share on 25 August 2010. Prior to this Mr Hammerstad held no shares in the Company.

Enquiries: