Director Shareholding

Schroders PLC
31 December 2002


                                 Schroders plc


In accordance with section 329 of the Companies Act 1985 and Chapter 16,
paragraph 13 of the Listing Rules, we hereby notify you that an award of 19,607
non-voting ordinary shares under the Schroders Performance Share Plan,
originally granted to Mr A F Sykes, a Director of the Company, on 17th March
1997, expired on 31st December 2002, the performance target not having been met.


The Company further announces that it has today been informed by the Trustees
that on 17th September 2002 following the vesting of rights held by Mr N E H
Ferguson, a Director, under the Equity Compensation Plan, over 3,572 non-voting
ordinary shares, the Trustees transferred 2,143 shares into his own name and
retained 1,159 shares to cover his tax obligations.


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For further information, please contact:

Ian Johnson

Schroders plc

0207 658 6243


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