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TR European Growth (TRG)

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Tuesday 31 August, 2004

TR European Growth

Holding(s) in Company

TR European Growth Trust PLC
31 August 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

CARROUSEL CAPITAL 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                                         14,788,671
THE CARROUSEL FUND II LIMITED                                       7,540,948
TOTAL                                                              22,329,619


5. Number of shares / amount of stock acquired

25,000


6. Percentage of issued class

INSIGNIFICANT


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

26 AUGUST 2004


11. Date company informed

31 AUGUST 2004


12. Total holding following this notification

22,329,619


13. Total percentage holding of issued class following this notification

THE CARROUSEL FUND LIMITED                                             9.95%
THE CARROUSEL FUND II LIMITED                                          5.07%
TOTAL                                                                 15.02%


14. Any additional information

-


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


Date of notification

31 AUGUST 2004

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damages for loss of business or loss of profits) arising in contract, tort or
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