Director Shareholding

Schroders PLC
18 March 2003

                                 Schroders plc



In compliance with Chapter 16, paragraph 13 of the Listing Rules and Section 329
of the Companies Act 1985 and, we hereby inform you that we have today been
advised that the Trustee of the Schroders Employee Benefit Trust has transferred
a total of 1,512,454 non-voting ordinary shares to participants in share schemes
as follows:
Date                                  No. of non-voting
                                        ordinary shares     Scheme name
                                            transferred
7th March 2003                                    1,918     Wordwide Share Ownership Plan

10th March 2003                                  34,699     Equity Compensation Plan

13th March 2003                                 189,663     Equity Compensation Plan

13th March 2003                                 977,317     Retention Plan

17th March 2003                                  36,006     Equity Compensation Plan

17th March 2003                                 272,851     Share Option Scheme 1986

Total:                                        1,512,454



The potential beneficiaries of the trust include, amongst others, Directors of
Schroders plc who, apart from as stated below, ceased to have an interest in
these shares.

Amongst the participants receiving shares were the following Directors of
Schroders plc:

Mr A.F. Sykes was entitled to receive 10,757 non-voting ordinary shares under
the Equity Compensation Plan on 17th March 2003. The Trustee retained 4,304
shares for tax purposes and transferred the balance to him on that date and he
has retained those shares. Mr Sykes was also entitled to receive 93,750
non-voting ordinary shares under the Retention Plan on 13th March 2003. The
Trustee retained 37,500 shares for tax purposes and transferred 56,250 shares to
him on that date and he has retained those shares.

Mr M. Tosato was entitled to receive 40,000 non-voting ordinary shares under the
Retention Plan on 13th March 2003. The Trustee retained 16,000 shares for tax
purposes and transferred the balance of 24,000 to him on that date and he has
retained those shares.

Mr N.E.H. Ferguson was entitled to receive 2,858 non-voting ordinary shares
under the Equity Compensation Plan on 17th March 2003. The Trustee retained
1,144 shares for tax purposes and the balance of 1,714 shares were transferred
to him on that date. He sold the shares on the same day at a price of £4.40 per
share.

Mr G.W. Mallinckrodt exercised an option over 332,319 non-voting ordinary shares
on 17th March 2003 at a price of £2.52 per share. The option had originally been
granted in March 1993. 59,468 of the shares were sold at a price of £4.56 per
share to settle the tax liability and the balance of 272,851 shares were
transferred to him by the Trustee on the same day. He has retained these shares.



I. Johnson

18th March 2003


                      This information is provided by RNS
            The company news service from the London Stock Exchange