Purchase of Own Securities

SCHRODER UK GROWTH FUND PLC
27 October 1999

PURCHASE OF WARRANTS FOR CANCELLATION

Schroder UK Growth Fund plc announces that on 27 October 1999, the Company
purchased 200,000 warrants for cancellation, at a price of 49.00 pence per
warrant.  Following the purchases, there are a further 29,132,007 warrants in
issue which can be exercised at the subscription price of 100p per share on 31
August (or if not a business day the next business day) in any of the years 2000
to 2002 both inclusive.

Enquiries:

John Spedding
Schroder Investment Management Limited                    Tel: [phone]