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Orbis Japan Equity (YEN) Fund and Orbis Japan Equity (US$) Fund Transfer Domicile

13 13 2002

Hamilton, Bermuda, December 13, 2002 - Effective November 29, 2002 Orbis Japan Equity (Yen) Fund Limited, formerly a British Virgin Islands mutual fund company, transferred its domicile and continued in Luxembourg as Orbis SICAV (a variable capital investment company). On the same date, Orbis Japan Equity (US$) Fund Limited, also formerly a British Virgin Islands mutual fund company, re-domiciled as a Bermuda mutual fund company.

State Street Bank and Trust Company will continue as custodian of Orbis Japan Equity (US$) Fund Limited. Its subsidiary, State Street Bank, Luxembourg S.A. will act as custodian of Orbis SICAV. The Orbis Japan Equity (US$) Fund Limited administrator will continue to be The Bank of Bermuda Limited. Its subsidiary, Bank of Bermuda (Luxembourg) S.A. will act as administrator of Orbis SICAV.

These changes to the Orbis Japan funds are not expected to have any material impact on how the funds are managed.

For more information, contact Geoffrey Gardner at +1 441 296 3000.