Corporate Action

Schroders PLC
17 April 2000

SCHEME OF ARRANGEMENT
SECURITY TITLE
*Ord Shs, Non Vtg Ord Shs
MNEMONIC CODE           *SDR, SDRC
SEDOL CODE              *779-407, 786-634
TERMS                   *For each Ord Share held, holders will receive 1        
                        Ordinary Share in New Schroders (To be renamed          
                       Schroders), together with 1 New 'B' Share of 350p.

                         For each Non Vtg Ord Share held, holders will receive  
                        1 Non Voting Share in New Schroders (to be renamed      
                       Schroders), together with 1 New 'B' share of 350p.
PROVISIONAL EX DATE     *18-04-00
RECORD DATE             *17-04-00
NOTES *