Share Plans

Schroders PLC
12 December 2005


                          Stock Exchange Announcement

Schroders plc announces that it is today launching an HM Revenue & Customs
approved Share Incentive Plan (SIP) for all UK-based employees. The SIP will
offer employees the opportunity to purchase Schroders ordinary shares out of
pre-tax pay.

Schroders will also be seeking shareholder approval at its Annual General
Meeting in April 2006 to amend the rules of the Schroders Equity Compensation
Plan to enable awards to be made over Schroders ordinary shares. Currently all
awards under the Equity Compensation Plan are made over non-voting ordinary
shares. If shareholder approval is obtained it is currently expected that most
future awards will be made over ordinary shares and not non-voting ordinary
shares and that any awards made in March 2006 over non-voting shares will be
converted pro rata into awards over voting shares. Existing awards will not be
affected. Details on the operation of the Equity Compensation Plan are included
in the Remuneration Report in the Schroders Annual Report for 2004 on page 13.


Graham Staples
Company Secretary
Schroders plc


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