RNS Number:4244U
Schroder Income Growth Fund PLC
20 January 2004

                                                                 20 January 2004

                    Substantial Share Interest Notification

We are writing to advise you that the Company was notified on 20 January 2004,
pursuant to S198 of the Companies Act 1985, that JPMF Investment Trust Fund, has
increased its material interest in the Company following the acquisition of
1,200,000 shares due to a corporate action, and now holds 3,150,000 ordinary
shares of ten pence each, representing 4.14 per cent of the Company's 76,062,343
shares in issue.


Enquiries:

John Spedding

Schroder Investment Management Limited

Tel: 020 7658 3206


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