Re Directorate

Schroders PLC
19 October 2001


EMBARGOED UNTIL 3.00pm 19TH OCTOBER 2001

19th October 2001

                                Schroders plc


                   Appointment of new Group Chief Executive
                          & Acquisition of Beaumont



Schroders plc ('Schroders') is pleased to announce the appointment of Michael
Dobson as Chief Executive of Schroders. He brings enormous experience to this
role with a  proven track record of successfully running a global asset
management business.  He was previously head of Deutsche Asset Management and
is currently Chairman and Chief Executive of Beaumont Capital Management
Limited ('Beaumont').  He has served as a non-executive Director of Schroders
for the past six months and, subject to receipt of regulatory consent, is
expected to take up his new role as Chief Executive at the end of October.

Furthermore, Schroders is accelerating its growth in private banking and
alternative investment management through the proposed acquisition of Beaumont
and its operations.  Beaumont is an absolute return asset management business
focusing on high net worth individuals, family offices and professional
investors.  Beaumont was founded in November 2000 by Michael Dobson and
Raphael Kanza and was authorised by the Investment Management Regulatory
Organisation in May 2001.  It now has approximately US$275 million of funds
actually or prospectively under management.  Beaumont has assembled a team of
exceptional investment professionals and is seen as a valuable and
complementary addition to Schroders' existing operations in the private
banking and alternative investment arena.  Schroders proposes to pay £33.5
million for 100% of Beaumont in a mixture of Schroders non-voting stock, loan
notes and cash.  Beaumont shareholders have elected to take approximately 75
per cent of the consideration in Schroders non-voting shares.  The
consideration due to the Beaumont shareholders continuing as employees will be
paid over three years.

At 28th September 2001, Beaumont's unaudited net assets were £3.0 million(1).
Beaumont, which became fully operational in the first half of 2001, has
sustained moderate losses during the year to date. For calendar year 2001, it
is anticipated that losses will be approximately £1 million.  From 2002
onwards, Beaumont is expected to grow both its revenues and profitability
strongly.

Peter Sedgwick, Chairman of Schroders, commenting on the appointment and the
acquisition, said:

'We are delighted that Michael has agreed to be our new Chief Executive.  He
has a wealth of experience in fund management and will provide excellent
strategic leadership for Schroders.

We are also very pleased to have secured the opportunity to acquire Beaumont's
team to lead the way in diversifying and expanding the Group's position in the
fast growing and attractive area of alternative investments which will be a
major benefit to clients.'

Michael Dobson commented: 'Schroders has been a tough competitor over many
years.  A strong investment culture, an excellent brand and a business focused
on asset management and private banking are a great platform for building
value.  For Beaumont, this is a powerful opportunity to accelerate the growth
of its business model.'

Given Michael Dobson's existing status as a shareholder in Beaumont and a
non-executive Director of Schroders, the proposed transaction will be subject
to Schroders shareholders' approval at an extraordinary general meeting. A
circular describing the proposed transaction and convening this meeting will
be sent to shareholders shortly.

In support of the proposed transaction, shareholders representing
approximately 47 per cent of the ordinary share capital have irrevocably
committed to vote in favour of the ordinary resolutions required to approve
and implement the proposed transaction.



Enquiries:



Schroders plc

Peter Sedgwick (Chairman)                           020 7658 6476
Nick MacAndrew (Chief Financial Officer)            020 7658 6985
Julian Samways (Head of Corporate Communications)   020 7658 6166

Beaumont Capital Management Ltd
Michael Dobson (Schroder Chief Executive Designate) 020 7024 7900

Greenhill (advisers to Schroders)
Simon Borrows/James Hatchley                        020 7440 0400

Hawkpoint (advisers to Beaumont)
Christopher Kemball                                 020 7665 4500

GCI Financial
Rupert Ashe                                         020 7398 0800



Notes to editors:



                     Beaumont Capital Management Limited

Beaumont is an absolute return asset management business based in London,
England.  The business, which employs 16 staff drawn from a variety of leading
asset management and banking groups, currently has approximately US$275
million of funds actually or prospectively under management on behalf of high
net worth individuals, family offices and professional investors.  Michael
Dobson, Chairman and Chief Executive and Raphael Kanza, Chief Investment
Officer, co-founded Beaumont in 2000 and additional partners include Sally
Tennant, Robin Apps, Dan Ison, Rupert Robinson, Toby Joll and David Reid
Scott.   The non-executive directors are John Armitage, Sir John Craven, John
Morgan and Simon Murray.

Beaumont aims to achieve consistent positive absolute returns by outperforming
indices in strong markets and preserving capital in weak markets.  Beaumont
provides a segregated account management service for portfolios in excess of
US$10 million and pooled long only and long/short investment funds for those
investing smaller amounts.

Beaumont's operations are regulated by IMRO.



                                Michael Dobson

Michael Dobson graduated from Cambridge in 1973 and joined the investment
division of Morgan Grenfell.  He was Managing Director of Morgan Grenfell Inc
in New York (1984), Chief Executive of Morgan Grenfell Asset Management (1987)
and Chief Executive of Morgan Grenfell Group (1989).  He was Chief Executive
of Deutsche Morgan Grenfell (1993) and a member of the Board of Managing
Directors of Deutsche Bank from 1996-2000.   He was responsible for the global
asset management business of Deutsche Bank from 1998-2000 and remains a member
of the Advisory Board of Deutsche Bank.


                                Raphael Kanza

Raphael Kanza graduated from the University of Paris in 1968 and joined
Cheuvreux de Virieu S.A., one of the largest stockbroking firms in Paris.  He
was in charge of research, institutional sales and investment management from
1974.  Following the acquisition of Cheuvreux by Banque Indosuez, he became
Managing Director in 1988 and Chairman in 1994.  In 1997, he joined SEFI S.A.
an investment advisory firm based in Geneva.  He co-founded Beaumont last year
and is Chief Investment Officer.  He is a Director of Argus Fund, The
Establishment Trust, The Egerton European Equity Fund and Foreign & Colonial
Eurotrust PLC.  He is a Chartered Financial Analyst.


                                 Schroders plc

Schroders is a leading international asset management and private banking
group, with nearly 200 years experience in financial services and with over £
122 billion funds under management.

Apart from managing investments on behalf of pension funds, government bodies,
charities, corporations, family groups and high net worth individuals
throughout the world, Schroders is a leading manager of unit trusts and other
mutual funds and an established provider of banking and fiduciary services.
Schroders offers investments across all major asset classes in developed and
emerging countries; public equities and debt, money markets, private equity,
hedge funds and property.

Schroders employs over 2,700 staff world-wide through 39 offices in 28
countries and territories.

Further information about Schroders is located on www.schroders.com

Schroder Investment Management Limited is regulated by IMRO.



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(1) Source: Beaumont management accounts (unaudited), adjusted for capital
changes proposed to take effect prior to completion of the proposed
transaction.