SAR 5 - De La Rue Plc

Schroders PLC
28 April 2006

                                                                      FORM SAR 5



                            DISCLOSURE OF DISPOSALS

       (Rule 5 of The Rules Governing Substantial Acquisitions of Shares)




Name of seller                                  Schroders Plc
Beneficial owner, if different from above       Clients under discretionary management agreements with Schroder
                                                Investment Management Limited and its associates and subsidiaries.



Names of any other persons acting by agreement  n/a
or understanding (see SAR 5)
Company dealt in                                De La Rue Plc

Class of voting shares (eg ordinary shares)     Ord 27.77p

Date of disposal                                27.04.06





Number of shares disposed of                    115,330

Number of rights over shares disposed of #      n/a
Nature of rights over shares                    n/a

which includes an in-specie transfer out of  97,560 shares.




Total holding of voting shares (and percentage  36,292,770 (21.945%)
of total voting shares in issue)

Total holding of rights over shares (and        n/a
percentage of total voting shares in issue)

Combined total holding (and percentage) of      36,292,770 (21.945%)
voting shares and rights over shares





Date of disclosure                              28.04.06

Contact name                                    Albion Onojobi

Telephone number                                020 7658 2962




#  See the definition of 'rights over shares' in the Definitions Section of the
SARs.



For details of the SARs disclosure requirements, see SARs 3 and 5 and their
Notes which can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.




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