Issue of Equity

Schroder Oriental Income Fund Ltd
28 July 2005


                                        27 July 2005


                              ADMISSISION (UPDATE)


Following closing of the placing and offer for subscription (the 'Offer'),
applications have been made to the Financial Services Authority for 150,000,000
new ordinary shares in Schroder Oriental Income Fund Limited ('Shares') to be
admitted to the Official List and to the London Stock Exchange for the Shares to
be admitted to trading on the London Stock Exchange's market for listed
securities. The net proceeds of the Issue are £148.15 million.


Applications were received under the Offer for 37,691,063 Shares which is in
excess of the 24,220,945 Shares available under the Offer. In accordance with
the terms of the Offer, applications will be scaled back pro rata to the value
of each investor's subscription. Applications under the Offer will therefore be
satisfied as to approximately 64.26 per cent. It is expected that funds in
respect of applications scaled back will be returned to investors in the week
commencing 1 August 2005.


It is expected that Admission will become effective, and that dealings in the
Shares will commence, at 8.00 a.m. on 28 July 2005.



For further information, please contact:

David Benda / Kathryn Standley

Close Brothers Securities

Tel. [phone] / 2977




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