RNS Number:2468R
Schroders PLC
11 February 2002

                                                                      FORM SAR 5

Lodge with Company Announcements Office and Newstrack, if appropriate, and the
Takeover Panel. A copy must also be sent to the company the shares of which are
being sold.

Date of disclosure:     11/02/02

      DISCLOSURE UNDER NOTE 3 ON RULE 5 OF THE RULES GOVERNING SUBSTANTIAL
                        ACQUISITIONS OF SHARES ("SARs")

Date of sale     08/02/02

Sale of          Alexon Group plc

1) Class of voting shares   Number of shares/rights  If rights over shares sold, 
   (e.g. ordinary shares)   over shares sold         as opposed to the shares 
                                                     themselves, specify nature 
                                                     of rights

   Ordinary 10p shares      200,000     shares

                                        rights


                                    
2) Resultant total holding  Resultant total holding   Total percentageover 
   of voting shares (and %  of rights shares (and % 
   of total voting          of total voting  shares 
   shares in issue)         in issue)


   10,793,035 (17.698%)                         ( %)          17.698%




(3)     Party making disclosure     Schroders plc

                                                      
4)      (a)     Name of person selling shares          Schroders plc on behalf 
        or rights over shares and, if different,       of institutional clients 
        beneficial owner                               on a non-beneficial basis


        (b)     Names of any other persons
        acting by agreement or understanding




Signed, for and on behalf of the party named in (3) above

(Also print name of signatory)     Alison Dunn

Telephone and extension number     020 7658 2959 (Direct line)

                          ___________________________

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Tel. No.: 020
7638 0129.



                      This information is provided by RNS
            The company news service from the London Stock Exchange


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