RNS Number:4359T
Schroder Split ZDP PLC
18 December 2003

                                                                                       18 December 2003
PRESS RELEASE 

                                     SCHRODER SPLIT ZDP PLC 
                     PRELIMINARY RESULTS FOR THE YEAR ENDED 31 OCTOBER 2003 


The Directors of Schroder Split ZDP plc announce the unaudited preliminary results for the year ended 31 October
2003.

                                                                                                                      
  Highlights                                 31 October 2003                      31 October 2002           % change  
                                                  Pence                                Pence                          
  Net asset value per                                                                                                 
  Zero Dividend Preference Share                 113.96p                              105.76p                    +7.8 
  Share price per                                                                                                     
  Zero Dividend Preference Share                 119.00p                              105.25p                   +13.1 

  Total return to shareholders      Results for the year to 31 October      Results for the nine month                
                                                   2003                      period to 31 October 2002                
                                                  #'000                               #'000*                          
  Zero Dividend Preference Shares                 2,252                                1,583                    NA      
 

* The Company commenced operations following listing on the London Stock Exchange on 31 January 2002. The comparative
results in this report are for the period from 7 December 2001 to 31 October 2002. 

                                                                               
Unaudited Statement of Total Return   
(incorporating the revenue account)   
 

                                                                                                                      
                  Results for the year to 31 October 2003    Results for the nine month period ended 31 October 2002  
                                                    #'000                             #'000                           
                                       Revenue    Capital                         Total    Revenue   Capital     Total
                                         #'000      #'000                         #'000      #'000     #'000     #'000
  Accrued redemption premium                 -      2,252                         2,252         -      1,583     1,583
  receivable from parent company                                                                                      
  Gross revenue and capital gains            -      2,252                         2,252         -      1,583     1,583
  Return / (deficit) on ordinary             -      2,252                         2,252         -      1,583     1,583
  activities before and after                                                                                         
  taxation                                                                                                            
  Appropriations in respect of non                                                                                    
  equity shares                                                                                                       
  Zero Dividend Preference Shares            -    (2,252)                       (2,252)         -    (1,583)   (1,583)
  Transfer to reserves                       -          -                             -         -          -         -
  Return per share                           -          -                             -         -          -         -
  Zero Dividend Preference Shares            -      8.20p                         8.20p         -      5.76p     5.76p
 

                                                                                                                      
                                                                            At 31 October 2003     At 31 October 2002 
  Unaudited Summary Balance Sheet                                                          #'000                 #'000
  Debtors: Due after one year                                                                                         
  Amounts receivable from parent company in respect of accrued redemption                 31,302                29,050
  entitlement on zero dividend preference shares                                                                      
  Other amount receivable from parent company                                                 50                    50
                                                                                          31,352                29,100
  Net Assets                                                                              31,352                29,100
  Share capital and reserves                                                              31,352                29,100
  Net asset value per Zero Dividend Preference Share                                     113.96p               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) for the year ended 31 October 2003 or the period ended 31 October 2002. The statutory
accounts for the period from 7 December 2001 to 31 October 2002 have been delivered to the Registrar of Companies
following the Company's annual general meeting. The auditors reported on those accounts; their report was unqualified
and did not contain a statement under s237(2) or (3) Companies Act 1985. The statutory accounts for the year ended 31
October 2003 will be finalised on the basis of the financial information presented by the directors in this
preliminary announcement and will be 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 Report and Accounts will be mailed to shareholders at their registered addresses in January 2004 and from the
date of release copies 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)

18 December 2003
 



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

END

FR UWOSROWRUAAA