Portfolio Update

SchroderJapan Growth Fund PLC
03 February 2004


FOR IMMEDIATE RELEASE 05-Jan-04

To : The London Stock Exchange

Schroder Japan Growth Fund plc

The Board of Schroder Japan Growth Fund plc announces that the top ten holdings
as at Friday 30 January 2004 are:-


East Japan Railway Company 6.04%

Mitsui & Company 6.03%

Takeda Chemical Industries 5.82%

Toyota Motor Corporation 5.49%

Ricoh Company 5.05%

Bridgestone Corporation 4.87%

Glory Limited 3.12%

Rohm Company 2.94%

Nippon Unipac Holding 2.85%

Toho Company (Film) 2.84%



By Order of the Board

Schroder Investment Management Limited

Secretaries



Enquiries : Stephen Cunningham 020 7658 3287

Schroder Japan Growth Fund plc


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