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TR European Growth (TRG)

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Tuesday 14 September, 2004

TR European Growth

Dividend Declaration

TR European Growth Trust PLC
14 September 2004



TR EUROPEAN GROWTH TRUST PLC

HENDERSON GLOBAL INVESTORS

13 September 2004



                          TR EUROPEAN GROWTH TRUST PLC

                        DIVIDEND RESOLUTION AND AGM DATE


The board of TR European Growth Trust plc announces payment of the following
dividends in respect of the year ended 30 June 2004:

  • an interim dividend of 2.4p per ordinary share (an increase of 14% over
    the final dividend paid in November 2003); and
  • a special dividend of 0.5p per ordinary share.

The total dividend for the year ended 30 June 2004 is therefore 2.9p per
ordinary share. Both dividends will be paid on 5 November 2004 to holders
registered at the close of business on 1 October 2004. A single payment will be
made to shareholders in respect of the total dividend of 2.9p per ordinary
share.

The Annual General Meeting of the Company for the year ended 30 June 2004 is
scheduled to be held on 14 December 2004. This is later than the usual date in
November, when shareholders would normally approve the final dividend for the
year.

The board aims to have a progressive dividend policy. However, due to a
substantial one-off increase in the level of revenue from ordinary activities
before taxation, in order to maintain investment trust status, the amount
required to be distributed to shareholders is significantly higher this year.
The special dividend to be paid is due to this increase.

Therefore the board has decided to pay both the interim and special dividends in
place of the final dividend, to ensure that shareholders are paid their dividend
in November.



                                      ENDS

For further information please contact:
Stephen Peak

Fund Manager

TR European Growth Trust plc

Telephone: 020 7818 4334
Stephen Westwood

Head of Investment Trusts

Henderson Global Investors

Telephone: 020 7818 5517
Vicki Staveacre

Press Office

Henderson Global Investors

Telephone: 020 7818 4222




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