RNS Number:5047L
Schroder Emerging Countries Fd PLC
23 May 2003

FOR IMMEDIATE RELEASE                                   23-May-03





To : The London Stock Exchange


Schroder Emerging Countries Fund plc

The Board of the Schroder Emerging Countries Fund plc announces that the
unaudited net asset value per share as at Wednesday 21st May 2003 was 55.30 pence.


The diluted net asset value as at Wednesday 21st May 2003 is not released as it
is higher than the undiluted net asset value.




By Order of the Board

Schroder Investment Management Limited

Secretaries



Enquiries :                              Stephen Cunningham 020 7658 3287


Schroder Emerging Countries Fund plc


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