SAR - RM PLC

Schroders PLC
30 October 2003

                                                                      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:     30/10/03

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

Date of sale     29/10/03

Sale of          RM plc


    1)     Class of voting shares (e.g. ordinary shares)

           Ordinary 2p shares

Number of shares/rights over shares sold 31,007shares

                                         rights

If rights over shares sold, as opposed to the shares themselves, specify nature
of rights



    2)     Resultant total holding of voting shares (and % of total voting
    shares in issue)   22,408,483



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

Total percentage    (24.981%)


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


             (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)     Alison Dunn

Telephone and extension number     020 7658 2959 (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.


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