Sale of Japan Securities Division

Schroders PLC
8 February 2000


                      SCHRODERS PLC

            SALE OF JAPAN SECURITIES DIVISION


Schroders announces that Schroders Japan Limited has
agreed to sell its Japanese Securities Division (the
'Division') to Credit Suisse First Boston, subject to
Japanese regulatory approvals.  The transaction will
consist of the transfer of the personnel of the Division
and certain fixed assets relating to the business with a
book value of £2.3m.  The Division is included in the
investment banking business that Schroders has agreed to
sell to Salomon Smith Barney and accordingly, assuming
completion of that transaction, the net proceeds from the
sale will be received by Salomon Smith Barney.
Completion of the sale of the Division is not linked to
completion of the principal transaction.


Enquiries:

Schroders:
Will Samuel              [phone]
Nick MacAndrew