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TR European Growth (TRG)

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Friday 14 November, 2003

TR European Growth

Expiry of Warrants

TR European Growth Trust PLC
14 November 2003

TR EUROPEAN GROWTH TRUST PLC

HENDERSON GLOBAL INVESTORS

14 NOVEMBER 2003



                          TR EUROPEAN GROWTH TRUST PLC

The final opportunity for Warrantholders in TR European Growth Trust plc (the
'Company') to exercise all or any of their subscription rights in accordance
with the terms of the Company's warrants occurred on 30 October 2003. An
announcement concerning an application for the listing of the shares arising
from the exercise of these warrants was made on 6 November 2003.


Pursuant to the terms and conditions of the warrants, the Company appointed a
Trustee following the final subscription date of 30 October 2003, with a view to
determining whether or not to convert those warrants remaining unexercised as at
that date. It was determined that the proceeds of sale of the ordinary shares
arising on conversion of the warrants, after deduction of all costs and
expenses, would not exceed the costs of subscription and, accordingly, the
warrants lapsed with no value with effect from close of business on 13 November
2003.


The Company announces that it has now applied to the UK Listing Authority for
the listing of the warrants to be withdrawn.




                                    - ENDS -


For further information contact



Stephen Peak                                                 Stephen Westwood

Director                                                     Head of Investment Trusts

TR European Growth Trust plc                                 Henderson Global Investors

Telephone: 020 7818 4334                                     Telephone: 020 7818 5517

Stephen Phillips                                             Vicki Staveacre

Associate Director                                           Henderson Press Office

Henderson Global Investors                                   Telephone: 020 7818 4222

Telephone: 020 7818 6417











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