Investment Adviser and Director Dealings

18 November 2010

JAPAN RESIDENTIAL INVESTMENT COMPANY LIMITED

(the "Company")

Investment Adviser and Director 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 18 November 2010, Alec Menikoff, Managing Director of K.K. Halifax Asset Management, the Company's Investment Adviser, notified the Company that he had acquired 10,000 ordinary shares of 10p each in the Company ("Ordinary Shares") at 46.25p per Ordinary Share on 17 November 2010. Following this transaction, Mr Menikoff beneficial interest in the Company is 20,000 Ordinary Shares, representing 0.01 per cent. of the Company's issued share capital. 

On 18 November 2010, Paul Hammerstad, a non-executive director of the Company, notified the Company that he had acquired 10,000 Ordinary Shares at 46.25p per Ordinary Share on 17 November 2010. Following this transaction, Mr Hammerstad's beneficial interest in the Company is 40,000 Ordinary Shares, representing 0.02 per cent. of the Company's issued share capital.

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