Re Directorate

Schroders PLC
31 August 2001



Schroders plc

Board changes

The Board of Schroders announces that David Salisbury, the Chief Executive,
has decided to resign from the Group. He has been with Schroders since January
1974 and has been head of the Asset Management business since September 1996,
becoming Chief Executive of Schroders plc in May last year.

Commenting on his resignation, Peter Sedgwick, Chairman, said: 'David has
contributed a great deal to Schroders over many years and we are immensely
grateful to him for all he has done. He was one of the driving forces behind
the huge growth of Schroders' asset management business in the 1980s and
1990s, both here and during the time he spent in New York. We wish him well.'

Peter Sedgwick will assume the Chief Executive's responsibilities until a new
Chief Executive is appointed.

The Board also announces that John Troiano, head of the Institutional
business, and Massimo Tosato, head of the Retail business, have been appointed
to the Board. They join Nick MacAndrew, Chief Financial Officer, and Andrew
Sykes, head of the Private Banking business, and, under Peter Sedgwick's
chairmanship, will form the Group Executive Committee.

In a separate announcement, Schroders is also releasing its half-year results
to 30th June 2001.



I.P. Sedgwick

31st August 2001



Press enquiries:

Peter Sedgwick 020 7658 6476





Biographical details of Mr Troiano:

Born 25th January 1959, British; B.A. (Oxon)

John Troiano joined Schroders in 1981 as an Investment Analyst, and worked in
London and New York. He became head of the UK Research Department in 1987 and
ran the US equity team based in London from 1988 to 1991. Subsequently he
joined Schroder Investment Management North America as a portfolio manager for
international equity and emerging markets products.

He was appointed Chief Executive of Schroder Investment Management North
America Inc. in 1997, and in 2000 he was appointed Chief Executive of Schroder
Investment Management Limited, chairing the Institutional Executive Committee,
which oversees the Group's global institutional business. In 2001 he was
appointed Managing Director and Chairman of Schroder Investment Management
(UK) Limited, and is also a member of the Schroder Group Management Committee.

It is confirmed that there are no details to be disclosed concerning Mr
Troiano under paragraph 6.F.2 (b) to (g) of the Listing Rules.





Biographical details of Mr Tosato:

Born 27th November 1954, Italian; MBA from Columbia Business School

Massimo Tosato founded Cominvest in 1981 and served as Chairman and Managing
Director until 1991. In 1992 he became Managing Director of Euromercantile, a
capital investment firm. In 1994 he co-founded Viasat Assistance SpA with the
Telecom Italia group and Europ Assistance.

Massimo Tosato joined the Schroder Group in 1995 as a Director of Schroder
Italia SIM SpA and Managing Director of Schroder Fondi SpA, with
responsibility for building the Institutional, Retail and Private Banking
businesses in Italy. In 1998 he was appointed to the board of Schroder
Investment Management (Luxembourg) S.A. and subsequently became Managing
Director of Schroder Italia SIM SpA in 1999. In the same year he relocated to
London with overall responsibility for the continental Europe mutual funds
business as Managing Director (Europe).

He was appointed Group Managing Director, Retail, with responsibility for all
Retail business worldwide in 2001 and is Chairman of the European Executive
Committee and a member of the Schroder Group Management Committee. He is also
a member of Columbia Business School Board of Overseers (New York).

It is confirmed that there are no details to be disclosed concerning Mr Tosato
under paragraph 6.F.2 (b) to (g) of the Listing Rules.