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Schroder Inc Growth (BC!)

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Monday 03 February, 2003

Schroder Inc Growth

Issue of Equity

Schroder Income Growth Fund PLC
03 February 2003

                                                                 3 February 2003

                        Schroder Income Growth Fund plc

                              Issue of New Equity

The Board of Schroder Income Growth Fund plc announces that the Company today
issued 315,001 new ordinary shares at a price of 134 pence per share. The shares
were issued to Schroder Nominees Limited as nominees for participants in the
Schroder Personal Equity Plan and Individual Savings Account.

The new shares will rank pari passu in all respects with the existing issued
ordinary shares of the Company. The total number of shares in issue is now

The shares issued will be admitted to the Official list and admitted to trading
under prior block listing applications made to the UK Listing Authority and to
the London Stock Exchange.


Christine Daniels

Schroder Investment Management Limited                        Tel: 020 7658 6186

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