Acquisition

Schroders PLC
18 March 2008


                                                                  18 March 2008





Schroders plc

Schroders to acquire Swiss third party fund management business of Swiss Re


Schroders plc announces that one of its subsidiaries has reached agreement to
acquire Swiss Re Asset Management Funds (Switzerland) AG, the Swiss third party
fund management business of Swiss Re.  At 29 February 2008, the business
included in the sale had assets under management of approximately £0.9 billion
(CHF 1.9 billion).

The business being acquired manages six funds, focused on European equities,
capital protected products, global balanced and property.  Key employees will
transfer to Schroders on completion of the transaction.

Stephen Mills, Country Head Switzerland said, 'This acquisition deepens our
footprint in Switzerland, the third largest institutional market in Europe and
broadens our product offering to local clients through a range of complementary
funds with a strong track record'.

Benjamin Meuli, Member of the Executive Board of Swiss Re, said, 'Over the years
we have built up a strong stable of funds; we are delighted that Schroders, a
highly respected asset manager, will further develop this business together with
the current fund managers'.

The business to be acquired has gross assets (for the purposes of Listing Rule
10.3.2(2)(b)) of approximately £3.4 million (CHF 7 million), represented
predominantly by cash and receivables.

Completion of the transaction remains subject to regulatory approvals.

Contacts:

Schroders plc
Nik Ekholm       Head of PR    [phone]     [e-mail]




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