Top Ten Holdings

Schroder AsiaPacific Fund PLC
05 January 2004


FOR IMMEDIATE RELEASE                                        05-Jan-04

To: The London Stock Exchange



Schroder Asia Pacific Fund plc

The Board of the Schroder Asia Pacific Fund plc announces that the top ten
holdings as at Wednesday 31 December 2003 are as follows:-

NAME                                             % of GROSS ASSETS

Samsung Electronics                              8.38%
Guoco Group                                      2.98%
Taiwan Semiconductor Manufacturing               2.77%
Grasim Industries Limited                        2.64%
Schroder Taiwan Fund                             2.31%
United Overseas Bank                             2.24%
Fortune Real Estate                              2.04%
Moulin                                           1.79%
Swire Pacific                                    1.77%
Jardine Matheson                                 1.66%



By Order of the Board
Schroder Investment Management Limited
Secretaries


Enquiries: Stephen Cunningham                               020 7658 3287
           Schroder Asia Pacific Fund plc



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