Transaction in Own Shares

Schroder UK Growth Fund PLC
29 June 2004




                                                                    29 June 2004

                       Purchase of Shares For Cancellation

Schroder UK Growth Fund plc announces that on 28 June 2004 the Company purchased
300,000 shares for cancellation at a price of 90.50 pence per share. Following
this purchase, there are a further 167,445,900 shares in issue.


Enquiries:

John Spedding
Schroder Investment Management Limited                        Tel: [phone]


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