Purchase of Own Securities

Schroder UK Growth Fund PLC
12 January 2001


                    PURCHASE OF WARRANTS FOR CANCELLATION


Schroder UK Growth Fund plc announces that on 11 January 2001, the Company
purchased 300,000 warrants for cancellation, at a price of 38.00 pence per
warrant. Following this purchase, there are a further 26,248,939 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 2001
and 2002 both inclusive.


Enquiries:

John Spedding
Schroder Investment Management Limited           Tel: [phone]