Substantial Shre Notification

SchroderJapan Growth Fund PLC
20 March 2001

20 March 2001

By Facsimile


London Stock Exchange Limited

Company Announcements

Old Broad Street

London

EC2N 1HP


Dear Sirs


                   Substantial Share Interest Notification


We are writing to advise you that the Company was notified on 19 March 2001,
that Global Investor Services, has increased its beneficial interest in the
Company to 3,800,000 ordinary shares. The holdings, which are registered in
the name of HSBC Global Custody Nominee (UK) Limited a/c 831377, represent
3.04% of the Company's 125,003,500 shares in issue. The date of the
transaction was not disclosed.


Yours faithfully,

John Spedding

For SCHRODER INVESTMENT MANAGEMENT LIMITED

Secretaries