JAPAN RES INV CO : TR-1 Notification of Major Interests in Shares

NEWS RELEASE

Japan Residential Inv. Co. Ltd

31 October 2008

Japan Residential Investment Company Limited ("the Company")

TR-1NOTIFICATION OF MAJOR INTERESTS IN SHARES

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

JapanResidential Investment Company

2. Reason for notification (yes/no)
An acquisition or disposal of voting rights	Yes
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An event changing the breakdown of voting rights
Other (please specify): Reduction in issued Share Capital

3. Full name of person(s) subject to notification obligation:	Ruffer LLP
4. Full name of shareholder(s) (if different from 3):
5. Date of transaction (and date on which the threshold is crossed or reached if different):	28 October 2008
6. Date on which issuer notified:	29 October 2008
7. Threshold(s) that is/are crossed or reached:	Moved from 9% to 12%

8: Notified Details
A: Voting rights attached to shares
Class/type of shares If possible use ISIN code	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of shares	Number of voting rights	Number of shares	Number of voting rights		Percentage of voting rights
				Direct	Indirect	Direct	Indirect
GG00B1FB3X85	9,418,000	9,418,000	12,118,000	12,118,000		12.1%

B: Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date	Exercise/ conversion period/date	No. of voting rights that may be acquired (if the instrument exercised/converted)	Percentage of voting rights

Total (A+B)
Number of voting rights	Percentage of voting rights
12,118,000	12.1%

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

n/a

Proxy Voting:
10. Name of proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:	None
14 Contact name:	Louise Ellis
15. Contact telephone name:	020 7963 8146

Enquiries:
K.K. Halifax Asset Management	Fairfax I.S. PLC	Smith & Williamson Corporate Finance Limited
Alec Menikoff	John Korwin-Szymanowski	Azhic Basirov
[phone]	[phone]	[phone]