SAR 3 - Clapham House

Schroders PLC
19 May 2005

                                                                      FORM SAR 3



                           DISCLOSURE OF ACQUISITIONS

       (Rule 3 of The Rules Governing Substantial Acquisitions of Shares)




Name of acquirer                                Schroders plc

Beneficial owner, if different from above       Clients under discretionary management agreements with Schroder
                                                Investment Management Limited and its associates and subsidiaries.



Names of any other persons acting by agreement  n/a
or understanding (see SAR 5)

Company dealt in                                Clapham House Group plc

Class of voting shares (eg ordinary shares)     10p

Date of acquisition                             18.05.05





Number of shares acquired                       200,000

Number of rights over shares acquired #         n/a
Nature of rights over shares                    n/a






Total holding of voting shares (and percentage  3,562,184 (17.588%)
of total voting shares in issue)

Total holding of rights over shares (and        n/a
percentage of total voting shares in issue)

Combined total holding (and percentage) of      3,562,184 (17.588%)
voting shares and rights over shares







Date of disclosure                  19.05.05


Contact name                        Duncan Murray

Telephone number                    020 7658 2962




#  See the definition of 'rights over shares' in the Definitions Section of the
SARs.



For details of the SARs disclosure requirements, see SARs 3 and 5 and their
Notes which can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.






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