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TR European Growth (TRG)

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Thursday 22 January, 2004

TR European Growth

Holding(s) in Company

TR European Growth Trust PLC
22 January 2004

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company
TR EUROPEAN GROWTH TRUST PLC



2. Name of shareholder having a major interest
THE CARROUSEL FUND LIMITED



3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18


AS 2 ABOVE



4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them

THE CARROUSEL FUND LIMITED                                       5,655,000
THE CARROUSEL FUND II LIMITED                                    1,200,000
Total                                                            6,855,000



5. Number of shares / amount of stock acquired
NOT SPECIFIED



6. Percentage of issued class
 -



7. Number of shares / amount of stock disposed
-



 8. Percentage of issued class
-





9. Class of security
ORDINARY SHARES OF 12.5P EACH



10. Date of transaction
20 JANUARY 2004



 11. Date company informed
22 JANUARY 2004



12. Total holding following this notification
6,855,000



13. Total percentage holding of issued class following this notification
4.45%



14. Any additional information
THIS IS AN INCREASE OF 1,200,000 SHARES SINCE THE LAST NOTIFICATION ON 31 DECEMBER 2003



15. Name of contact and telephone number for queries

JOHN ELLMAN-BROWN 020 7818 6816

16. Name and signature of authorised company official responsible for making
this notification
JOHN ELLMAN-BROWN, FOR AND ON BEHALF OF HENDERSON SECRETARIAL SERVICES LIMITED

SECRETARY TO TR EUROPEAN GROWTH TRUST PLC



Date of notification
22 JANUARY 2004

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