SAR - Merant plc (Rplcmt)

Schroders PLC
12 December 2001

Replacement Announcement - Merant plc

The issuer advises that the 'SAR - Merant plc' announcement released on 10
December 2001 at 10.11 under RNS Number 41030 was disclosed in error. A back
dated in-specie transfer out from Schroders plc reduced the holding below the
15% threshold.