RNS Number:6096N
Schroder Emerging Countries Fd PLC
16 July 2003

                                                                    16 July 2003


                    Substantial Share Interest Notification


We are writing to advise you that the Company was notified on 16 July 2003 that,
Credit Lyonnais Securities has an interest in 3,238,725 ordinary shares in the
Company representing 3.44% of the shares in issue. These shares are or will be
registered in the name of Credit Lyonnais Securities. The date of the
transaction was not disclosed.



Enquiries:

John Spedding

Schroder Investment Management Limited

Tel: 020 7658 3206


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