Purchase of Own Securities

Schroder UK Growth Fund PLC
1 June 2001


                                                                   1 June 2001


                    Purchase of Warrants For Cancellation


Schroder UK Growth Fund plc announces that on 31 May 2001, the Company
purchased 285,000 warrants for cancellation, at a price of 26.00 pence per
warrant. Following this purchase, there are a further 25,963,939 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
2001 and 2002 both inclusive.


Enquiries:

John Spedding

Schroder Investment Management Limited     Tel: [phone]