Directorate Change

Schroders PLC
20 November 2003

                               Schroders plc

Schroders plc announces that, in the context of the revised Combined Code on
Corporate Governance published in July 2003, Charles Sinclair and Nicholas
Ferguson will be retiring from the Board at Schroders Annual General Meeting on
22nd April 2004. Charles Sinclair has served as a non-executive Director since
1990 and Nick Ferguson since 2001.

Michael Miles, Chairman, commenting, said 'On behalf of the Board I should like
to thank Charles and Nick for their distinguished service and valuable
contribution.'

Sir Peter Job, who joined the Board in 1999 as a non-executive Director, has
accepted the Board's invitation to serve as Senior Independent Director with
effect from today. The responsibilities of this non-executive role are described
in the Combined Code.



For further information, please contact:                     Tel: [phone]

Julian Samways

Group Head of Corporate Communications

Schroders plc





20th November 2003


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