Director Shareholding

Schroders PLC
24 December 2003

                                 SCHRODERS PLC






The Company was informed on 23 December 2003 that on 18 December 2003 the
Trustee of the Schroders Employee Benefit Trust bought 350,000 non-voting
ordinary shares in the Company at a price of 576p 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

24 December 2003










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