SAR - Blick PLC

Schroders PLC
28 December 2001


                                                                    FORM SAR 5

Lodge with Company Announcements Office and Newstrack, if appropriate, and the
Takeover Panel. A copy must also be sent to the company the shares of which
are being sold.

Date of disclosure:     28/12/01

     DISCLOSURE UNDER NOTE 3 ON RULE 5 OF THE RULES GOVERNING SUBSTANTIAL
                       ACQUISITIONS OF SHARES ('SARs')

Date of sale     27/12/01

Sale of          Blick plc


                             
1)  Class of voting          Number of shares/     If rights over shares sold,
    shares (e.g. ordinary    rights over           as opposed to the shares 
    shares)                  shares sold           themselves, specify nature
                                                   of rights

    Ordinary 0.5p shares     270,000   shares

                                       rights


                                
2)  Resultant total             Resultant total holding         Total
    holding of voting           of rights over shares           percentage
    shares (and % of total      (and % of total voting  
    voting shares in issue)     shares in issue)


      5,831,217 (18.710%)                     ( %)                18.710%


(3)     Party making disclosure     Schroders plc


                                                    
4)     (a)  Name of person selling                  Schroders plc on behalf of
        shares or rights over shares and, if        institutional clients on a
        different, beneficial owner                 non-beneficial basis


       (b)  Names of any other
        persons acting by agreement or
        understanding




Signed, for and on behalf of the party named in (3) above

(Also print name of signatory)     Ian Chappell (Compliance Manager)

Telephone and extension number     020 7658 7941 (Direct line)

                         ___________________________

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Tel. No.: 020
7638 0129.