RNS Number:9661K
Schroders PLC
12 May 2003

                                                                      FORM SAR 5

Lodge with a RIS or Newstrack and the Takeover Panel. A copy must also be sent
to the company the shares of which are acquired.

Date of disclosure:     12/05/03

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

Date of sale     09/05/03

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

Ordinary 0.5p shares                           4,081,000     shares
                                                             rights

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


               59,986,801 (16.523%)                                  ( %)            16.523%


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


             (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
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