RNS Number:6365M
Schroder Emerging Countries Fd PLC
23 June 2003



                                                                    23 June 2003



                    Substantial Share Interest Notification

We are writing to advise you that the Company was notified on 23 June 2003 that
following disposals amounting to 8,270,000 ordinary shares, BAE Systems Pension
Funds Investment Management Limited no longer has a notifiable interest in the
ordinary shares of the Company. The date of the transaction was not disclosed.





Enquiries:

John Spedding

Schroder Investment Management Limited

Tel: 020 7658 3206



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