GSG Gov.Sing.Gwth.

Govett Singapore Growth Fund Limited

Announcement under UKLA listing rule 21.20(l)

1. As at 29 February 2004, the Company had no investments requiring disclosure
in accordance with UKLA Listing Rule 21.20(l)(i).

2. In accordance with UKLA ListingRule 21.20(l)(ii), the Company's ten largest
investments as at 29 February 2004, were:

Company                                                 �'000     Percentage of
                                                                   Gross Assets
    
SINGAPORE TELECOMMUNICATIONS SGD0.15                    3,678              15.9
                                                                               
UOBH HOLDINGS SGD1                                      3,583              15.5
                                                                               
OVERSEA-CHINESE BANKING CORP SGD1                       2,126               9.2
                              
DBS GROUP SGD1.00                                       1,868               8.1
                                                                               
KEPPEL CP SGD0.50                          1,600               6.9
                                                                               
SINGAPORE PRESS SGD1                                    1,122               4.8
                                                        
JAYA HOLDINGS SGD0.10                                   1,094               4.7
                                                                               
SINGAPORE TECHNOLOGY ENGINEERING                        1,066        4.6
                                                                               
SINGAPORE EXCHANGE SGD0.01                                948               4.1
                                                                               
SEMBCORP INDUSTRIES                                       753               3.3



END

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