Substantial Shre Notification

Schroder AsiaPacific Fund PLC
14 December 2001

14 December 2001

By Facsimile



London Stock Exchange Limited

Company Announcements

Old Broad Street

London

EC2N 1HP



Dear Sirs


                   Substantial Share Interest Notification


We are writing to advise you that the Company was notified on 14 December
2001, that BAE Systems Pension Funds Investment Management Limited, has
increased its beneficial interest in the Company to 8,150,000 ordinary shares.
The holdings, which are registered in the name of Chase Nominees Limited,
represent 5.86% of the Company's 139,195,505 ordinary 10p shares in issue. The
date of the transaction was not disclosed.



Yours faithfully,





John Spedding

For SCHRODER INVESTMENT MANAGEMENT LIMITED

Secretaries