Investment Manager

SchroderJapan Growth Fund PLC
09 February 2004



                                                                 9 February 2004


On 28 January the Board announced that Denis Clough will be taking a leave of
absence from Schroders. The Company is pleased to announce that Donald
Farquharson will be taking responsibility within Schroder Investment Management
Limited's Japanese team, for the investment management of the Company's equity
portfolio.

Donald, who will take up the post with immediate effect, has worked for
Schroders since 1988. He has been on the Japanese investment team since being
seconded to the Tokyo office in 1991 as head of the local Research Department.
Since his return to London in 1995 he has been a Japanese and Pacific equity
fund manager, working alongside Denis Clough. He is an Executive Director of
Schroder Investment Management Limited.


Enquiries:

John Spedding

Schroder Investment Management Limited

Tel: [phone]

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