Director Shareholding

Schroders PLC
03 December 2002

                                 Schroders plc

In compliance with Chapter 16.13 of the Listing Rules and Section 329 of the
Companies Act 1985, we hereby inform you that the Company has today been advised
that following the exercise of an award under the Schroders Worldwide Share
Ownership Plan the Trustees of the Schroders Employee Benefit Trust ('the
Trust') transferred 439 Non-Voting Ordinary shares from the Trust to a
participant on 29th November 2002.

The potential beneficiaries of the Trust under the Company's share schemes
include, amongst others, Directors of Schroders plc.


I. Johnson

3rd December 2002


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