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Schroder Inc Growth (SCF)

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Thursday 17 January, 2008

Schroder Inc Growth

Interim Management Statement

Schroder Income Growth Fund PLC
17 January 2008

                        SCHRODER INCOME GROWTH FUND PLC

Interim Management Statement for the Quarter ended 30 November 2007

The Board of Schroder Income Growth Fund Plc ('the Company') is pleased to
announce its first Interim Management Statement as required by the UK Listing
Authority's Disclosure and Transparency Rules. This Statement is in respect of
the period from 1 September 2007 to 30 November 2007.

Investment Objective

The Company's principal investment objectives are to provide real growth of
income, being growth of income in excess of the rate of inflation, and capital
growth as a consequence of the rising income.

First Interim Dividend for the year ended 31 August 2008

The Board declared a first interim dividend of 1.60p net per share for the year
ended 31 August 2008, payable on 31 January 2008 to shareholders on the register
on 19 December 2007.

Annual General Meeting

The Annual General Meeting of the Company was held on 19 December 2007. All
resolutions set out in the Notice of Meeting were duly passed.

Company Statistics as at 30 November 2007

Net Assets                                                  £154.3 million
Net Asset Value per Ordinary Share                          223.26p
Share Price                                                 194.00p
Discount to NAV                                             (13.1%)
Number of Portfolio Holdings                                33

Cumulative Performance to 30 November 2007

Performance over                            3mnths      6mnths        1yr           5yr

Share Price (Total Return)                  (7.1)%      (12.1)%       (5.7)%        70.8%
Net Asset Value (Total Return)              (2.3)%      (7.7)%        2.4%          89.3%
FTSE All-Share Index Total Return           1.3%        (3.1)%        8.5%          93.2%

All Performance Data Source: Fundamental Data.

Portfolio Information as at 30 November 2007

Ten Largest Holdings

Stock Name                 Sector Classification     Market Value (£)         Percentage of NAV

Royal Dutch Shell 'B'      Oil & Gas                 14,306,501               9.39
BP                         Oil & Gas                 8,822,482                5.79
HSBC                       Financials                7,023,595                4.61
Astrazeneca                Healthcare                6,902,788                4.53
Vodafone                   Telecommunications        6,793,741                4.46
GlaxoSmithKline            Healthcare                6,809,476                4.47
Lloyds TSB                 Financials                6,007,043                3.94
Rexam                      Industrials               5,849,640                3.84
HBOS                       Financials                5,561,805                3.65
National Grid              Utilities                 5,177,454                3.40

Sector Allocation

Sector                                       Percentage of NAV

Financials                                   24.81
Oil & Gas                                    14.99
Consumer Goods                               12.42
Industrials                                  11.07
Consumer Services                            10.31
Healthcare                                   8.89
Utilities                                    8.82
Telecommunications                           7.43
Net current assets                           1.26

Changes to Share Capital during the quarter ended 30 November 2007

                                                     Issued Ordinary shares of 10p each

As at 1 September 2007                               71,687,343
Shares bought back and cancelled during the period   2,999,000
Shares bought for holding in treasury during the     Nil
Shares already held in treasury                      Nil
Shares cancelled from treasury                       Nil
Shares remaining in issue as at 30 November 2007     68,688,343

Material Events or Transactions

There have been no other material events or transactions that have taken place
between 1 September 2007 and the date of publication of this Statement.

Company Information as at 30 November 2007

SEDOL Code                                   0791586
Sector                                       Income and Growth
Launch Date                                  March 1995
Financial Year End                           31 August
Next Dividend Payment                        31 January 2008
Next Ex Div Date                             21 December 2007
Next AGM Date                                December 2008


Louise Richard
Schroder Investment Management Limited
Company Secretary
Tel: 0207 658 6501

17 January 2008

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

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