Transaction in Own Shares

Schroder UK Growth Fund PLC
02 July 2004



                                                                     2 July 2004

                            PURCHASE OF SHARES FOR CANCELLATION

Schroder UK Growth Fund plc announces that on 2 July 2004 the Company purchased
400,000 shares for cancellation at a price of 90.25 pence per share.  Following
this purchase, there are a further 167,045,900 shares in issue.

Enquiries:

John Spedding
Schroder Investment Management Limited              Tel: [phone]



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