Purchase of Own Securities

Schroder UK Growth Fund PLC
5 December 2001



                                                               5 December 2001


                    Purchase of Warrants For Cancellation


Schroder UK Growth Fund plc announces that on 4 December 2001, the Company
purchased 230,000 warrants for cancellation, at a price of 13.00 pence per
warrant. Following this purchase, there are a further 24,850,456 warrants in
issue which can be exercised at the subscription price of 100p per share on 2
September (or if not a business day the next business day) 2002, which will be
the final subscription date.



Enquiries:

John Spedding

Schroder Investment Management Limited     Tel: [phone]