Transaction in Own Shares

Schroder UK Growth Fund PLC
15 May 2007

                                                                     15 May 2007

                             Purchase of own Shares


The announcement released by Schroder UK Growth Fund plc (the 'Company') on 14
May 2007 at 18.30 under RNS Number 5833W incorrectly stated that the number of
shares in issue was 153,926,900 (excluding 5,999,000 shares held in treasury).
The number of shares in issue, excluding those held in treasury is in fact
157,176,900. The full text of the corrected announcement appears below.

Schroder UK Growth Fund plc (the 'Company') announces that on 14 May 2007 the
Company purchased 200,000 shares at a price of 1.4900 pence per share to be held
in treasury.  The number of shares in issue is 157,176,900 (excluding 5,999,000
shares held in treasury).

The Company wishes to clarify previous disclosures of purchases of its own
shares which referred to shares held in treasury, the first of which was
released on 13 December 2006. These previous announcements stated that shares
held in treasury were excluded from the number of shares in issue. However, due
to an administrative error, the number of shares held in treasury had
incorrectly been included in the total number of shares in issue. The above
statement of issued shares corrects the position following today's purchase.



Enquiries:

Louise Richard
Schroder Investment Management Limited                        Tel: [phone]





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