Purchase of Own Securities

Schroder UK Growth Fund PLC
17 August 2000


                   PURCHASE OF WARRANTS FOR CANCELLATION

Schroder UK Growth Fund plc announces that on 17 August 2000, the Company
purchased 89,899 warrants for cancellation, at a price of 49.50 pence per
warrant.  Following the purchases, there are a further 27,462,108 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 to 2002 both inclusive.

Enquiries:

John Spedding
Schroder Investment Management Limited               Tel:  [phone]