Exercise of Warrants

Schroder AsiaPacific Fund PLC
15 March 2000



Schroder AsiaPacific Fund plc (the 'Company')

Exercise of Warrants

The Company announces that 6 Warrantholders applied to exercise their
subscription rights over 4,905 Ordinary shares of 10p each in accordance with
the Terms and Conditions of Warrants in the Company.  Accordingly, application
has today been made to the London Stock Exchange for the listing of these
shares, which will rank pari passu with the Company's existing issued share
capital.

Following the allotment of these shares, the Company's issued share capital
has increased to 140,005,505 Ordinary shares.  There are a further 27,994,495
Warrants in issue which can be exercised at the subscription price of 100p per
share on 31 January (or if not a business day the next business day) in any of
the years 2001 to 2006 both inclusive.

Enquiries:

John Spedding
Schroder Investment Management Limited                     Tel:  [phone]