Director Shareholding

Schroders PLC
12 March 2003


                                 Schroders plc


In compliance with Section 329 of the Companies Act 1985 and Chapter 16,
paragraph 13 of the Listing Rules, we hereby notify that the Company was today
informed that on 10th March 2003 Mr. Andrew Sykes, an executive director of
Schroders plc, exercised rights over 7,822 non-voting ordinary shares of
Schroders plc held in the Equity Compensation Plan. The Trustee of the Schroders
Employee Benefit Trust transferred 4,693 shares to Mr. Sykes and retained 3,129
to cover Mr. Sykes' tax obligations.

The potential beneficiaries of the Trust under the Company's share schemes
include, amongst others, Directors of Schroders plc, who accordingly, ceased to
have an interest in those shares.

I. Johnson

12th March 2003


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