Purchase of Own Securities

Schroder UK Growth Fund PLC
5 January 2000

                  PURCHASE OF WARRANTS FOR CANCELLATION

Schroder UK Growth Fund Plc announces that on 5 January 2000, the Company
purchased 630,000 warrants for cancellation, at a price of 50.00 pence per
warrant. Following the purchases, there are a further 28,502,007 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 2000
to 2002 both inclusive.

Enquiries:

John Spedding
Schroder Investment Management Limited      Tel:  [phone]