AGM Statement

Schroder UK Growth Fund PLC
6 August 2001





6 August 2001

                            Annual General Meeting


The Company announces that at the Annual General Meeting, held at 31 Gresham
Street, London, EC2V 7QA, at 12.00 noon on Monday 6 August 2001, the
Resolutions numbered 1 to 11, as set out in the Notice of Meeting were duly
passed.


Mr Peter Sedgwick, Chairman, commented as follows:-

'As I mentioned in my Statement for the year ended 30 April 2001, Jim Titcomb
has expressed a willingness to resign as a director of the Company. Jim has
served as a Director of the Company since its launch in 1994 and he leaves
with the best wishes of the Board and our thanks for his significant
contribution to the Company.

I am pleased to announce that the election of Mr David Ritchie as a Director
of the Company has been approved by shareholders. Mr Ritchie, aged 56, is a
former executive chairman of Scottish Widows Investment Management Limited. He
is currently non-executive Chairman of Fleming Japanese Investment Trust plc
and Edinburgh Income and Value Trust plc and a director of Majedie Investments
plc and Gaucho Grill plc. Other appointments include that of advisor to a
major pension fund and charities, and chairmanship of Scottish Hospital Trust,
a statutory endowment fund.'


It is confirmed that there are no details to be disclosed concerning Mr
Ritchie under paragraph 6.F.2(b) to (g) of the Listing Rules.

The Chairman also reported that 'As indicated in the Annual Report, the
Management Engagement Committee's terms of reference include the review of the
terms of the management contract with Schroder Investment Management Limited.
The Committee undertook an annual review of this contract in June 2001,
comparing the terms of the contract with current market practice. The
Committee proposed that the base investment management fee should be reduced
from 0.5% to 0.4% of assets under management. The Committee also proposed that
the Notice period of 1 year, required under the contract, should be reduced to
3 months.

The Manager has subsequently agreed to these amendments to the management
contract, and they will therefore become effective retrospectively from 1 May
2001. These matters aside, the contract remains on its existing terms.'


Enquiries:


John Spedding

Schroder Investment Management Limited                     020 7658 3206

Secretaries