RNS Number:5887M
Schroder Split ZDP PLC
20 June 2003



                                                                    20 June 2003


PRESS RELEASE

                                Interim results

The Directors of Schroder Split ZDP plc announce the unaudited interim results
for the six month period ended 30 April 2003.

Highlights                                      30 April 2003                31 October 2002              % change

                                                    Pence                         Pence

Net asset value per
Zero Dividend Preference Share                     109.75p                       105.76p                      3.77


Share price per
Zero Dividend Preference Share                     117.00p                       105.25p                     11.16


Total return to shareholders            Results for the period to 30
                                                 April 2003

                                                    #'000


Zero Dividend Preference Shares                     1,096



Unaudited Statement of Total Return                                  Results for the period from 1 November 2002 to 30
                                                                                         April 2003  
(incorporating the revenue account)


                                                                              Revenue           Capital            Total
                                                                                #'000             #'000            #'000

Accrued redemption premium receivable from                                          -             1,096            1,096
parent company

Gross revenue and capital gains                                                     -             1,096            1,096

Return / (deficit) on ordinary activities                                           -             1,096            1,096
before and after taxation

Appropriations in respect of non equity shares                                                  (1,096)          (1,096)

Zero dividend preference shares                                                     -             1,096            1,096

Transfer to reserves                                                                -

Return per share

Zero dividend preference shares                                                     -             3.99p            3.99p


                                                                    At 30 April 2003               At 31 October 2002  
Unaudited Summary Balance Sheet

                                                                                #'000                           #'000

Debtors

Amounts receivable from parent company in respect of                           30,146                          29,050
accrued redemption entitlement on zero dividend preference
shares

Other amount receivable from parent company
                                                                                   50                              50


                                                                               30,196                          29,100


Net Assets
                                                                               30,196                          29,100


Share capital and reserves
                                                                               30,196                          29,100


Net asset value per zero dividend preference share
                                                                              109.75p                         105.76p



Notes

1.The Company is a wholly owned subsidiary of Schroder Split Investment Fund
plc, a company incorporated in England & Wales and operating in the United
Kingdom.

2.The above financial information is unaudited and does not amount to statutory
accounts under Section 240 of the Companies Act 1985 (as amended). The statutory
accounts have been delivered to the Registrar of Companies following the
Company's annual general meeting.

3.The Company has taken advantage of the exemptions permitted by FRS1 not to
prepare a cash flow statement as it is a wholly owned subsidiary of Schroder
Split Investment Fund plc.




The Interim Report will be mailed to shareholders at their registered addresses
in July 2003 and from the date of release copies of the Interim Report will be
available to the public at the Company's registered office: 31 Gresham Street,
London, EC2V 7QA.





Enquiries:             Schroder Investment Management Limited

Neil Olofsson          (020 7658 3496)

20 June 2003







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