Director Shareholding

SchroderJapan Growth Fund PLC
20 November 2001


             NOTIFICATION OF INTEREST OF DIRECTORS AND CONNECTED

                                   PERSONS

All relevant boxes should be completed in block capital letters.

1. Name of company                          2. Name of director
   Schroder Japan Growth Fund plc              Keisuke Egashira

3. Please state whether notification        4. Name of registered holder(s)
   indicates that it is in respect of          and, if more than one holder,
   holding of the director named in 2 above    the number of shares held by
   or holding of that person's spouse or       each of them (if notified)
   children under the age of 18 or in
   respect of a non-beneficial interest        Lloyds TSB Registrars Savings
                                               Nominees Limited are a
                                               registered holder of shares in
                                               the Schroder Investment
   Director only                               Trust Dealing Service

5. Please state whether notification        6. Please state the nature of the
   relates to a person(s) connected with       transaction. For PEP
   the director named in 2 above and           transactions please indicate
   identify the connected person(s)            whether general/single co PEP
                                               and if discretionary/non
                                               discretionary
   N/A

7.  Number of      8.  Percentage 9.  Number of     10. Percentage of issued
    shares/amount      of issued      shares/amount     class
    of stock           class          of stock
    acquired                          disposed

    1,854              0.0015%        -                 -

11. Class of       12. Price per  13. Date of       14. Date company informed
    security           share          transaction
                                                        Information received
                                                        from Lloyds TSB
                                                        Registrars, the
                                                        Administrator on
    Ordinary           80.5p          26 July 2001      20 November 2001
    Shares

15. Total holding following    16. Total percentage holding of issued class
    this notification              following this notification

    41,127 Ordinary Shares         0.033%

If a director has been granted options by the company please complete the
following boxes.

17. Date of grant                         18. Period during which or date on
                                              which exercisable

19. Total amount paid (if any) for grant  20. Description of shares or
    of the option                             debentures involved: class,
                                              number



21. Exercise price (if fixed at time of   22. Total number of shares or
    grant) or indication that price is to     debentures over which options
    be fixed at time of exercise              held following this notification


23. Any additional information            24. Name of contact and telephone
                                              number for queries.
    Director not yet informed
                                              John Spedding Tel: [phone]

25. Name and signature of authorised company official responsible for making
    this notification

    Date of notification 20 November 2001 John Spedding

    For SCHRODER INVESTMENT MANAGEMENT LIMITED

    Secretaries