Disposal

SCHRODERS PLC
24 August 1999

To: Company Announcements Office
From Schroders plc

The following announcement has been made in Sydney, Australia today, Tuesday
24th  August 1999.  The consideration of A$112.5 million referred to will be
settled in cash.

'Schroders Australia to focus on investment management and trading businesses
following sale of domestic property business to AMP

Schroders Australia today announced the sale of its domestic Australian property
asset management business to AMP Asset Management for A$112.5 million.

The business, which is 75.1% owned by Schroders, manages the listed Schroders
Property  Fund with A$1.4 billion of assets and wholesale property assets of
A$1.6 billion on behalf of private clients, including the unlisted Schroders
Private Property Syndicate.

Kerry Smith, Managing Director of Schroders Australia, said 'The future of
Schroders in Australia is clearly in strengthening our investment management and
already successful and profitable trading activities. This will align the
Australian operations more closely with the global strengths of Schroders and be
achieved through a combination of organic growth and targeted acquisitions.

'The sale of our domestic property business to the AMP has provided a timely
opportunity for Schroders and its partners to realise value in a rapidly
consolidating segment of the market', he concluded.

Peter Sedgwick, Deputy Chairman of Schroders plc, said: 'Schroders has been in
Australia since 1961 and is committed to expanding the scale of its Australian
operations. Over the last few years Schroders Australia has been positioned to
combine the global strengths of Schroders with the significant potential that
exists within the Australian markets.

'Investment management is a key part of our global business with £118.8 billion
in funds under management at 31 December 1998. The sophisticated and rapidly
growing Australian market is the fifth largest in the world and is very
important to Schroders.

'Schroders has also operated a very profitable and successful trading business
in Australia for many years. This will continue with the full support of the
Schroder Group and it remains an essential component in our global trading
strategy,' he concluded.

London press enquiries to:
Mr Brian Wood
Head of Public Relations
Tel: + 44 171 658-6478