Director/PDMR Shareholding

Schroders PLC
04 October 2006


NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY OR CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required
by DR 3.1.4R(1).

(1)    An issuer making a notification in respect of a transaction relating
       to the shares or debentures of the issuer should complete boxes 1 to
       16, 23 and 24.
(2)    An issuer making a notification in respect of a derivative relating
       to the shares of the issuer should complete boxes 1 to 4, 6, 8, 13,
       14, 16, 23 and 24.
(3)    An issuer making a notification in respect of options granted to a
       director/person discharging managerial responsibilities should
       complete boxes 1 to 3 and 17 to 24.
(4)    An issuer making a notification in respect of a financial instrument
       relating to the shares of the issuer (other than a debenture) should
       complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.


Please complete all relevant boxes in block capital letters.


1. Name of the issuer

Schroders plc..............................


2. State whether the notification relates to (i) a transaction notified in
accordance with DR 3.1.4R(1)(a); or

(ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as
extended by section 328) of the Companies Act 1985; or

(iii) both (i) and (ii)

(i)

....................................


3. Name of person discharging managerial responsibilities/director

Lester Gray

....................................


4. State whether notification relates to a person connected with a person
discharging managerial responsibilities/director named in 3 and identify the
connected person

Christine Gray - wife

....................................


5. Indicate whether the notification is in respect of a holding of the person
referred to in 3 or 4 above or in respect of a non-beneficial interest

In respect of person named in 3 above

........................


6. Description of shares (including class), debentures or derivatives or
financial instruments relating to shares

Ordinary non-voting shares of £1

....................................


7. Name of registered shareholders(s) and, if more than one, the number of
shares held by each of them

As named in 3 above

....................................


8 State the nature of the transaction

Dividend Re-investment Plan

.................................

9. Number of shares, debentures or financial instruments relating to shares
acquired

329 - Lester Gray

22 - Christine Gray

....................................


10. Percentage of issued class acquired (treasury shares of that class should
not be taken into account when calculating percentage)

0.0005

..............................


11. Number of shares, debentures or financial instruments relating to shares
disposed

N/A

....................................


12. Percentage of issued class disposed (treasury shares of that class should
not be taken into account when calculating percentage)

N/A

....................................


13. Price per share or value of transaction

8.727349p

....................................


14. Date and place of transaction

29 September 2006 - London Stock Exchange

....................................


15. Total holding following notification and total percentage holding following
notification (any treasury shares should not be taken into account when
calculating percentage)

58,940 - 0.08% - Ordinary non-voting shares

93,018 - 0.14% - Rights to ordinary non-voting shares

40,976 - 0.02% - Rights to ordinary shares

348,917 - 0.52% - Options over ordinary non-voting shares


16. Date issuer informed of transaction

3 October 2006

....................................


If a person discharging managerial responsibilities has been granted options by
the issuer complete the following boxes


17 Date of grant

N/A

....................................


18. Period during which or date on which it can be exercised

N/A

....................................


19. Total amount paid (if any) for grant of the option

N/A

....................................


20. Description of shares or debentures involved (class and number)

N/A

....................................


21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at the time of exercise

N/A

....................................


22. Total number of shares or debentures over which options held following
notification

N/A

....................................


23. Any additional information

None

....................................


24. Name of contact and telephone number for queries

Hannah Ashdown

020 7658 6208

....................................


Name and signature of duly authorised officer of issuer responsible for making
notification

Helen Horton

Deputy Company Secretary

Schroders plc

....................................


Date of notification

4 October 2006

....................................

END



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