Japan Equity Fund Inc. Announces Annual Distribution for 2012, Payable on January 11, 2013

abrdn Japan Equity Fund, Inc. (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to outperform over the long term, on a total return basis (including appreciation and dividends), the Tokyo Stock Price Index (TOPIX). The Fund seeks to achieve its investment objective by investing substantially all of its assets, but under normal circumstances at least 80% of its assets, in equity securities of companies listed on the Tokyo Stock Exchange (TSE) or listed on the over-the-counter market in Japan or listed on other stock exchanges in Japan. The Fund invests in various sectors, including consumer discretionary, industrials, information technology, healthcare, financials, materials, communication services, consumer staples, real estate, and short-term investment. abrdn Asia Limited is the investment manager of the Fund.