Director Shareholding

Schroders PLC
22 December 2003



                                 SCHRODERS PLC





The Company has been informed today that on 17 December 2003 the Trustee of the
Schroders Employee Benefit Trust bought 150,000 non-voting ordinary shares in
the Company at a price of 566p per share.The potential beneficiaries of the
trust include the following directors -Jonathan Asquith, Michael Dobson,
Nicholas Ferguson, Richard Horlick, Andrew Sykes and Massimo Tosato- who are
deemed to hold a non beneficial interest in the shares held by the trust.



Ian Johnson

22 December 2003





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