RNS Number:6457J
Schroder Emerging Countries Fd PLC
04 April 2003

                                                                   4 April 2003



                    Substantial Share Interest Notification


We are writing to advise you that the Company was notified on 3 April 2003 that,
following a disposal of 580,000 shares in the Company on 26 March 2003, Allianz
AG as ultimate holding company of Merchants Investors Assurance Company Limited,
no longer has a notifiable interest in the ordinary shares of the Company.





Enquiries:

John Spedding

Schroder Investment Management Limited

Tel: 020 7658 3206



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