Trading Statement

Schroders PLC
18 April 2002


                                 Schroders plc

At the Annual General Meeting held today, Peter Sedgwick, Chairman, made the
following comments:

'2002 will be a further year of transition for Schroders as we continue to
adjust our business to the more difficult environment facing the asset
management industry. We have already announced a number of restructuring
initiatives and investment projects designed to reduce the future cost base of
the group, and we expect to identify further opportunities as the year goes on.
The significant costs of putting them in place will continue to be felt in the
profit and loss account in the short term. However, these programmes will bring
material benefits in future years and will make an important contribution to the
profitability of the business going forward.'

'Investment performance during the first quarter of 2002 was above benchmark in
most asset classes, continuing the trend of the past two years and providing the
platform for new business growth in the future.'



J.P. Bainbridge

Company Secretary

18th April 2002



For further information please contact:
Schroders
Peter Sedgwick                     Chairman                [phone]
The Maitland Consultancy
Fiona Piper                                                [phone]




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