Director Shareholding

Schroders PLC
11 March 2004



                                 Schroders plc

In compliance with Section 329 of the Companies Act 1985 and Chapter 16,
paragraph 13 of the Listing Rules, we hereby notify you that on 8 March 2004 the
following directors of Schroders plc were granted awards to acquire the numbers
of non-voting ordinary shares in Schroders plc set out below under the Rules of
the Company's Equity Compensation Plan and the Share Option Plan:

                                               Equity           Option
                                         Compensation             Plan
                                                 Plan              

Jonathan Asquith                             81,466                  -
Michael Dobson                              502,386                  -
Richard Horlick                             409,165            200,000
Massimo Tosato                               80,447                  -

The award under the Option Plan was granted at a price of £6.545 per share and
is subject to a performance condition.

Awards under the Equity Compensation Plan are granted for no consideration, do
not give rise to any immediate entitlement and are at risk of forfeiture in
whole or in part before the fifth anniversary.


Howard Trust
Company Secretary

11 March 2004



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