Holding(s) in Company

SchroderJapan Growth Fund PLC
25 May 2004



                                                                     25 May 2004


                    Substantial Share Interest Notification



We are writing to advise you that the Company was informed on 25 May 2004 that,
Legal & General Group Plc companies have a material interest in 5,197,454
ordinary shares of the Company representing 4.15% of the 125,003,500 shares in
issue.  The shares are registered in the name of HSBC Global Custody Nominee
(UK) Limited with various account designations.



Enquiries:

John Spedding
Schroder Investment Management Limited
Tel: [phone]





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