Interim Management Statement

Schroder UK Growth Fund PLC
25 March 2008

                          SCHRODER UK GROWTH FUND PLC

Interim Management Statement for the Quarter ended 31 January 2008

The Board of Schroder UK Growth Fund Plc ('the Company') announces its second
Interim Management Statement for the year ending 30 April 2008, as required by
the UK Listing Authority's Disclosure and Transparency Rules. This Statement is
in respect of the period from 1 November 2007 to 31 January 2008.

Investment Objective

The Company's principal investment objective is to achieve capital growth
predominantly from investment in UK equities, with the aim of providing a total
return in excess of the FTSE All-Share Index over the longer term.

Material Events or Transactions

There have been no material events or transactions that have taken place between
1 November 2007 and the date of publication of this Statement.

Company Statistics as at 31 January 2008

Gross Assets                                         £255.14 million
Net Asset Value per Ordinary Share                   135.54p
Share Price                                          130.00p
Premium/(Discount)                                   (4.09%)
Number of Holdings                                   36
Net Gearing                                          16.66%
Yield                                                2.81%

Cumulative Performance to 31 January 2008

Performance over                                      3m             6m          1yr

Share Price (Total Return)                            (16.9)         (9.6)       (2.2)
Net Asset Value (Total Return)                        (15.6)         (10.6)      (1.2)
FTSE All Share Total Return Index                     (12.8)         (7.5)       (3.6)

All Performance Data Source: Fundamental Data

Portfolio Information as at 31 January 2008

Ten Largest Holdings

Stock Name                Sector Classification     Market Value (£)          Percentage
                                                                              of NAV

BG Group                  Oil & Gas                 15,647,697                6.12
Xstrata                   Basic Materials           15,628,038                6.11
Standard Chartered        Financials                12,554,664                4.91
BP                        Oil & Gas                 12,169,165                4.76
Barclays                  Financials                10,231,855                4.00
Reuters Group             Consumer Services         9,821,864                 3.84
Royal Bank of

Scotland                  Financials                9,333,929                 3.65
BHP Billiton              Basic Materials           9,113,833                 3.56
British Airways           Consumer Services         8,826,887                 3.45

Legal & General           Financials                8,077,063                 3.16


Sector Allocation

                                                     Percentage
Sector                                               of NAV

Financials                                           32.02
Consumer Services                                    25.12
Oil & Gas                                            18.24
Basic Materials                                      13.97

Industrials                                          12.07

Consumer Goods                                       6.19
Technology                                           4.61
Utilities                                            2.55

Healthcare                                           2.53
Telecommunications                                   2.16


Changes to Share Capital during the Quarter ended 31 January 2008

                                                     Issued Ordinary Shares of 25p each

As at 1 November 2007                                163,175,900
Shares bought back for cancellation during the       Nil
quarter
Shares bought for holding in treasury during the     Nil
quarter
Shares sold from treasury during the quarter         250,000
Shares already held in treasury                      3,399,000
Shares cancelled from treasury                       2,900,000
Shares remaining in issue as at 31 January 2008      160,275,900


Company Information as at 31 January 2008

SEDOL Code                                   0791348
Sector                                       Equity Investment Instruments
Launch Date                                  25/04/1994
Financial Year End                           30 April
Next Dividend Payment                        31 July 2008
Last Ex Div Date                             9 January 2008


Enquiries:
John Spedding
Schroder Investment Management Limited
Company Secretary
Tel: [phone]

25 March 2008


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