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TR European Growth (TRG)

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Wednesday 08 December, 2004

TR European Growth

Transaction in Own Shares

TR European Growth Trust PLC
08 December 2004




                  TR European Growth Trust plc (the 'Company')

                    Market Purchase of Company's Own Shares

Further to its announcement of 6 December 2004, the Company announces that it
has repurchased 2,964,088 Ordinary Shares for cancellation at a price of 226.75
pence per share, being equivalent to a discount of 8.5 per cent. to the net
asset value of the Company as estimated by the Manager at noon today. Following
such repurchase and cancellation, the Company has 145,686,869 Ordinary Shares in

The Company has remaining authority to repurchase up to 14,287,394 Ordinary
Shares, being equivalent to 9.8 per cent. of issued share capital. The Company
will continue to use this authority in appropriate circumstances to repurchase
Ordinary Shares until expiry of the authority at the Company's Annual General
Meeting, due to be held on Tuesday 14 December 2004. A new authority to
repurchase up to 14.99 per cent. of issued share capital will be sought at that
Annual General Meeting.


Audley Twiston-Davies                                   020 7378 4500


Andrew Zychowski/Robbie Robertson                       020 7623 8000

Dresdner Kleinwort Wasserstein

Stephen Westwood                                        020 7818 5517

Henderson Global Investors

Dresdner Kleinwort Wasserstein, which is authorised and regulated by the
Financial Services Authority in the conduct of investment business, is acting
for the Company in connection with this announcement and no-one else and will
not be responsible to anyone other than the Company for providing the
protections afforded to clients of Dresdner Kleinwort Wasserstein nor for
providing advice in relation to the announcement.

                      This information is provided by RNS
            The company news service from the London Stock Exchange