Director Shareholding

Schroders PLC
13 June 2002

                                 Schroders plc

We refer to the announcement on 28th March 2002 concerning the transfer of
14,480 non voting ordinary shares to participants in the Schroder Equity
Compensation Plan ('the Plan') by the Trustees of the Employee Benefit Trust
upon the vesting of awards.

At the time of the notification the Company was informed by the Trustees that
the transfers included shares relating to the vesting of an award by a Director,
Mr A. F. Sykes. This information was inadvertently omitted from the
announcement.

Accordingly, we wish to regularise the position and hereby notify that on 28th
March 2002 the Company was advised that following the vesting of an award of
rights under the Plan, originally granted in March 1997, over 8,932 non-voting
ordinary shares, the Trustees transferred 5,359 non voting ordinary shares to Mr
A. F. Sykes on 26th March 2002. The Trustees retained 3,573 shares to cover his
tax obligations.


I.Johnson

13th June 2002


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