RNS Number:3492S
Schroders PLC
21 November 2003



                                                                      FORM SAR 3

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:     21/11/03

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

Date of acquisition     19/11/03

Acquisition in          Photo-Me International plc


1)     Class of voting shares (e.g. ordinary shares)

       0.5p ordinary shares

       Number of shares over shares acquired

       2,400,000 shares 

If rights over shares acquired, as opposed to the shares themselves, specify
nature of rights

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

       61,948,673 shares (17.052 %)

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


       Total percentage

        17.052%


(3)     Party making disclosure     Schroders plc

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

  (b)     Names of any other persons acting by
          agreement or understanding (see SAR 5)

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

(Also print name of signatory)     Duncan Murray

Telephone and extension number     020 7658 2962 (Direct line)

                          ___________________________

Note.     Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of or
acquisition by one person. Note 3 on SAR 5 requires persons who must aggregate
holdings to disclose certain disposals.

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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