Disposal of Investment Banking Business Complete

Schroders PLC
2 May 2000


                                SCHRODERS PLC
                                -------------
                                      
            COMPLETION OF DISPOSAL OF INVESTMENT BANKING BUSINESS
            -----------------------------------------------------
                                      

The  Board  of  Schroders plc announces that the disposal of  the  Investment
Banking Business to Salomon Smith Barney (SSB) was completed on 1st May 2000.
As part of the disposal process the offer from SSB was posted to shareholders
on 27th April 2000 and became wholly unconditional on 1st May 2000.

Any  shareholder  who  has not yet returned a valid  form  of  acceptance  is
reminded  that such forms should be returned by 3.00 p.m. on 18th  May  2000.
Any   shareholder  that  does  not  meet  this  deadline  will  receive  cash
consideration and will not be able to receive loan notes or Citigroup shares.


Enquiries to:

N.R. MacAndrew
Group Finance Director

+ 44 20 7658 6985