Share Buy Back Program

Schroders PLC
29 December 2005



Schroders plc (Schroders) announces that it has put in place an irrevocable,
non-discretionary programme allowing Schroders to buy back its non-voting
ordinary shares of £1 each during the close period which precedes the
preliminary results announcement on 21st February 2006.  Any purchases will be
effected during the period between 1 January 2006 and 20th February 2006 within
certain pre-set parameters and will be in accordance with Schroders' general
authority to repurchase its non-voting shares and in accordance with Chapter 12
of the Listing Rules.  Consequently the maximum price payable will be limited to
no more than 105 per cent of the average middle market closing price of
Schroders non-voting shares for the 5 dealing days preceding the date Of
purchase.

Any shares repurchased will be cancelled.  In announcing this Schroders confirms
that, currently it has no unpublished price sensitive information.


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