Purchase of Own Securities

SCHRODER UK GROWTH FUND PLC
28 July 1999

                 PURCHASE OF WARRANTS FOR CANCELLATION

Schroder UK Growth Fund plc announces that on 28 July 1999, the Company
purchased 225,000 warrants for cancellation, at a price of 50.00 pence per
warrant.  Following the purchases, there are a further 30,109,445 warrants in
issue which can be exercised at the subscription price of 100p per share on 31
August (or if not a business day the next business day) in any of the years 1999
to 2002 both inclusive.

Enquiries:

John Spedding
Schroder Investment Management Limited                  Tel: [phone]