Alliance Boots

Schroders PLC
26 March 2007

                                                                        FORM 8.3



    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE

              (Rule 8.3 of the City Code on Takeovers and Mergers)



1.         KEY INFORMATION


Name of person dealing  (Note 1)             Schroders plc
Company dealt in                              Alliance Boots plc
Class of relevant security to which the      Ordinary 37.179482p
dealings being disclosed relate (Note 2)
Date of dealing                              23/03/07



2.         INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE


(a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3)


                                                                           Long               Short
                                                                         Number        (%)   Number       (%)
(1) Relevant securities                                              13,348,916     1.380%


(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
Total                                                                13,348,916     1.380%



*this includes an in specie transfer out of 1,664,921 shares*


(b) Interests and short positions in relevant securities of the company, other than the class dealt in (Note 3)


 Class of relevant security:                                           Long             Short
                                                                       Number    (%)    Number    (%)
(1) Relevant securities
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
Total

  (c)      Rights to subscribe (Note 3)


Class of relevant security:                  Details






3.         DEALINGS (Note 4)



(a)        Purchases and sales


Purchase/sale                                   Number of securities             Price per unit (Note 5)


Sale                                                          10,230                            1022.00p

Sale                                                           1,395                            1037.50p




(b)        Derivatives transactions (other than options)


 Product name, e.g.     Long/short (Note 6)    Number of securities (Note 7)     Price per unit (Note 5)
                CFD



(c)        Options transactions in respect of existing securities

(i)         Writing, selling, purchasing or varying


Product name,e.g.   Writing,         Number of           Exercise  Type, e.g.    Expiry    Option moneypaid
call option         selling,         securities to which price     American,     date      /received per
                    purchasing,      the option relates            European etc.           unit (Note 5)
                    varying etc.     (Note 7)








(ii)        Exercising


      Product name, e.g. call option                Number of securities       Exercise price per unit (Note 5)






(d)        Other dealings (including new securities) (Note 4)


Nature of transaction (Note 8)       Details                             Price per unit (if applicable) (Note
                                                                         5)






4.         OTHER INFORMATION



Agreements, arrangements or understandings relating to options or derivatives



Full details of any agreement, arrangement or understanding between the person
disclosing and any other person relating to the voting rights of any relevant
securities under any option referred to on this form or relating to the voting
rights or future acquisition or disposal of any relevant securities to which any
derivative referred to on this form is referenced.  If none, this should be
stated.



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Is a Supplemental Form 8 attached? (Note 9)
            NO




Date of disclosure                                             26/03/07
Contact name                                                   Chris Melrose
Telephone number                                               020 7658 4331
If a connected EFM, name of offeree/offeror with which
connected
If a connected EFM, state nature of connection (Note 10)

Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk


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