Director Shareholding

Schroders PLC
2 January 2002


                                Schroders plc


In compliance with Section 329 of the Companies Act 1985 and Chapter 16 of the
Listing Rules we hereby notify that, the performance target not having been
met, the following awards of non- voting ordinary shares under the Schroders
Performance Share Plan, originally granted to Directors on 17th March 1997
accordingly lapsed on 31st December 2001.


                                  No. of Non-Voting Shares
N.R.MacAndrew                              50,036
A.F.Sykes                                  24,303
J.A.Troiano                                21,444


J.P. Bainbridge

Secretary

2nd January 2002