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Schroders PLC (SDR)

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Friday 29 October, 2004

Schroders PLC

SAR - Rensburg plc

Schroders PLC
29 October 2004


                                                                      FORM SAR 3


Lodge with a RIS or Newstrack if appropriate and the Takeover Panel.

A copy must also be sent to the company the shares of which are acquired.


Date of disclosure

29 October 2004...............................................................


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


28 September 2004...............................................................


Acquisition in (name of company)

Rensburg PLC...............................................................


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

10p...............................................................


Number of shares/rights over shares acquired

20,000...Shares........................Rights


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

...............................................................


2. Resultant total holding of voting shares (and % of total voting shares in
issue)

3,329,176..........         ....15.073%


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

..........         ..........%


Total percentage

15.073%


3. Party making disclosure

Schroders plc ..........................................


4. (a) Name of person acquiring shares or rights over shares

Schroders plc .....................


and, if different, beneficial owner
...............................................................


(b) Names of any other persons acting by agreement or understanding (see SAR 5)
...............................................................


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


(Also print name of signatory)

Duncan Murray......................................................


Telephone and extension number

020 7658 2962...............................................................
          
Note 1.   Under SAR 5, the holdings of and acquisitions by persons acting by 
          agreement or understanding must be aggregated and treated as a holding
          of or acquisition by one person. Note 3 on SAR 5 requires persons who 
          must aggregate holdings to disclose certain disposals.

Note 2.   The resultant total percentage holding of voting shares and rights 
          over shares is to be calculated by reference to the percentage held 
          and in issue outside treasury.

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, Monitoring
Section. Tel. No: 020 7638 0129.

Email:[email protected]




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