Directorate Change

Schroders PLC
11 March 2004



Schroders plc

Board Appointment

11 March 2004

Schroders plc announces that Merlyn Lowther, formerly Chief Cashier of the Bank
of England, was yesterday appointed to the Board of Schroders plc as a
non-executive director, with effect from 1 April 2004.

Ms Lowther will also become a member of the Board Audit Committee.

Michael Miles, Chairman, said 'I am delighted that Merlyn has accepted our
invitation to join the Board of Schroders, and Iook forward to the contribution
that her experience and independent viewpoint will bring.'

Biographical details for Ms Lowther are set out below.

Biographical Details - Merlyn Lowther

Merlyn Lowther has spent her whole career after leaving university with the Bank
of England, joining the Economics Division in 1975 and rising to the position of
Chief Cashier in 1999. Prior to this she held various senior management
positions within the Bank, including Personnel Director from 1996 - 1998 and
Deputy Chief Cashier from 1991-1996.

Ms Lowther is a Trustee of Henry Smith's Charity and of the Winston Churchill
Memorial Trust.

She has held no directorships of any other publicly quoted companies at any time
in the previous five years. There are no details to be disclosed as required by
paragraph 6.F.2 (b) to (g) of the Listing Rules.

As Ms Lowther has been appointed by the Board prior to the 2004 Annual General
Meeting of the Company on 22 April she will offer herself, in accordance with
the Company's Articles of Association, for election as a director at that
meeting.

For further information, please contact:

Schroders plc

Julian Samways     020 7658 6166
Group Head of Corporate Communications





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