Annual Report and Accounts

SchroderJapan Growth Fund PLC
17 October 2003

                                                                 17 October 2003


                        2003 Annual Report and Accounts

Schroder Japan Growth Fund plc has today submitted its 2003 Annual Report and
Accounts to the UK Listing Authority. A Circular to Warrantholders reminding
them of the forthcoming exercise date has also been submitted. The Report and
Circular will shortly be available for inspection at the UK Listing Authority's
Document Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Telephone number: 020 7676 1000


Enquiries:

Neil Olofsson
Schroder Investment Management Limited          Tel: [phone]



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