SAR -Old English Inns- Rplcmt

Schroders PLC
10 September 2001


The issuer advises that the following replaces the SAR - Old English Inns plc
announcement released today at 11.05am under RNS Number 7128J.

The number of shares sold is now 8,346,128, previously 6,764,706. The
resultant holding is now 0 (0%), previously 1,581,422 (4.016%)

All other details remain unchanged. The full corrected version is shown below.



                                                                    FORM SAR 5

Lodge with Company Announcements Office and Newstrack, if appropriate, and the
Takeover Panel. A copy must also be sent to the company the shares of which
are being sold.

Date of disclosure:     10/09/01

     DISCLOSURE UNDER NOTE 3 ON RULE 5 OF THE RULES GOVERNING SUBSTANTIAL
                       ACQUISITIONS OF SHARES ('SARs')

Date of sale:     07/09/01

Sale of          Old English Inns plc

1)  Class of           Number of shares/     If rights over shares sold, as 
    voting shares      rights over           opposed to the shares themselves,  
   (e.g. ordinary      shares sold           specify nature of rights
    shares)
    

   Ordinary 25p shares    8,346,128 shares
                                    rights


2)  Resultant total holding       Resultant total holding of rights     Total
    over shares (and % of total   percentage
    of voting shares (and % of    voting shares in issue)
    total voting shares in issue)

    0     (0%)                                       ( %)                  0%


(3)  Party making disclosure     Schroders plc


4) (a)    Name of person selling               Schroders plc on behalf of
          shares or rights over shares and,    institutional clients on a       
          if different, beneficial owner       non-beneficial basis


   (b)    Names of any other
          persons acting by agreement or
          understanding



Signed, for and on behalf of the party named in (3) above

(Also print name of signatory)     Alison Dunn

Telephone and extension number     020 7658 2959 (Direct line)

                         ___________________________

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Tel. No.: 020
7638 0129.