Directorate Change

Schroders PLC
17 May 2005


                              Schroders plc

                              Board Changes

17th May 2005

Schroders plc announces that Richard Horlick, Head of Investment, has decided to
step down from the Board as from 25th May and will leave the Company later this
year. Alan Brown, formerly Group Chief Investment Officer and Vice Chairman of
State Street Global Advisors, will join the Board and assume
Mr Horlick's responsibilities on 5th July 2005. Mr Brown will be a member of
Schroders' Group Management Committee, reporting to Michael Dobson.

Michael Dobson, Group Chief Executive, said: 'Since joining Schroders in 2002
Richard Horlick has played a major role in our success, in particular in
strengthening our investment performance. At the same time we have rebuilt
profitability and diversified our revenue streams. Richard has spoken to me
about pursuing other opportunities, and he and I have agreed that now is the
time for him to hand over to Alan Brown. I join with the Chairman, Michael
Miles, and the whole Board in thanking him for his contribution.

'We are delighted that Alan Brown is joining Schroders. He comes to us with a
depth of experience in equities and fixed income and in the institutional
marketplace in the UK and internationally. He will help to build on the progress
we have made in establishing a diversified product range with good investment
performance across a wide range of asset classes.'

Richard Horlick said: 'We have achieved a lot in recent years at Schroders and I
have greatly appreciated my time here. Now is the time to step down and I am
delighted to be handing over to Alan Brown for whom I have a great deal of
respect.'

There are no details with respect to Mr Brown to be disclosed as required by
paragraph 6.F.2 (b) to (g) of the Listing Rules.

Biographical details for Alan Brown are set out below.

For further information, please contact:
Jo Godfrey Tel:                                                 020 7658 2589
Acting Head of Corporate Communications
Schroders plc



Biographical Information - Alan Brown

Alan Brown, 52, joined State Street Global Advisors in 1995 and rose to be Group
Chief Investment Officer and Vice Chairman. He has over 30 years of fund
management experience, having joined Morgan Grenfell's investment management
business in 1974. His principal posts are set out below:

1995 - 2005: State Street Global Advisors (Managing Director from 1995 to 1997;
             Group Chief Investment Officer from 1997 to 2005; and also
             Vice Chairman from 2001 to 2005)

1989 - 1994: PanAgora Asset Management - Managing Director & Chief Investment
             Officer

1984 - 1989: Posthorn Global Asset Management - Managing Director & Head of 
             Fixed Income

1974 - 1984: Morgan Grenfell - Various positions, including Director & Head of 
             Fixed Income from 1981

Mr Brown is a member of the Advisory Council for the CFA Centre for Market
Integrity and Treasurer of the US foundation for CERGE-EI (The Centre for
Economic Research and Graduate Education - Economic Institute, attached to the
Charles University and the Academy of Sciences in Prague).

Mr Brown is not a director of any publicly quoted company and has not held any
such position in the last five years.

Schroders plc

Schroders is a global asset management company with £108.9 billion under
management as at 31st March 2005. Our clients are pension funds, financial
institutions including banks and insurance companies, charities, high net worth
individuals and retail investors.

Our aim is to apply our asset management skills to exceed our clients'
expectations in investment performance and client service. With one of the
largest networks of offices of any asset management company and over 250
portfolio managers and analysts covering global investment markets, we offer our
clients a comprehensive range of investment products and services.

Further information about Schroders can be found at www.schroders.com



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