Director Shareholding

Schroders PLC
01 April 2003

                                 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 awards under the Schroders Retention Plan, the
Trustees of the Schroders Employee Benefit Trust ('the Trust') transferred
11,250 Non-Voting Ordinary shares from the Trust to participants on 20th March
2003.


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




I. Johnson

1st April 2003


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