Transaction in Own Shares

Schroder UK Growth Fund PLC
03 August 2004




                                                                   3 August 2004


                      Purchase of Shares For Cancellation


Schroder UK Growth Fund plc announces that on 2 August 2004 the Company
purchased 500,000 shares for cancellation at a price of 88.25 pence per share.
Following this purchase, there are a further 166,045,900 shares in issue.


Enquiries:

John Spedding
Schroder Investment Management Limited Tel:                        020 7658 3206


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