Director Shareholding

SchroderJapan Growth Fund PLC
30 January 2004

              NOTIFICATION OF INTEREST OF DIRECTORS AND CONNECTED

                                    PERSONS

All relevant boxes should be completed in block capital letters.


1.

Name of company


Schroder Japan Growth Fund plc


2.

Name of director



Keisuke Egashira









3.

Please state whether notification indicates that it is in respect of holding of
the director named in 2 above or holding of that person's spouse or children
under the age of 18 or in respect of a non-beneficial interest

4.

Name of registered holder(s) and, if more than one holder, the number of shares
held by each of them (if notified)

Lloyds TSB Registrars Savings Nominees Limited as registered holder of shares in
the Schroder Investment



Director only



Trust Dealing Service

5.

Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)

6.

Please state the nature of the transaction. For PEP transactions please indicate
whether general/single co PEP and if discretionary/non discretionary



N/A



Market Purchase

7.

Number of shares/amount of stock acquired

8.

Percentage of issued class

9.

Number of shares/amount of stock disposed

10.

Percentage of issued class



7,798



0.0062%



-



-

11.

Class of security

12.

Price per share

13.

Date of transaction

14.

Date company informed

Information received from Lloyds TSB Registrars, the Administrator on



Ordinary Shares



71.75p



27 January 2004



30 January 2004

15.

Total holding following this notification

16.

Total percentage holding of issued class following this notification



74,634 Ordinary Shares



0.0597%

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 of the option





20.

Description of shares or debentures involved: class, number

21.

Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise



22.

Total number of shares or debentures over which options held following this
notification

23.

Any additional information

Director not yet informed

24.

Name of contact and telephone number for queries.

John Spedding Tel: [phone]

25.

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

Date of notification 30 January 2004 John Spedding

For SCHRODER INVESTMENT MANAGEMENT LIMITED

Secretaries






                      This information is provided by RNS
            The company news service from the London Stock Exchange