Preliminary Results

RNS Number:1437W
Schroder Split ZDP PLC
22 December 2005



22 December 2005

PRESS RELEASE

                              PRELIMINARY RESULTS



The Directors of Schroder Split ZDP plc announce the unaudited preliminary
results for the year period ended 31 October 2005.


Highlights                                   31 October 2005             31 October 2004            % change
                                                  Pence                       Pence
Net asset value per
Zero Dividend Preference Share                   132.34p                     122.82p                 +7.75%

Share price per
Zero Dividend Preference Share                   137.75p                     130.00p                 +5.96%

Total return  to shareholders          Results for the year to 31  Results for the year to 31
                                              October 2005                October 2004
                                                  #'000                       #'000
Zero Dividend Preference Shares                   2,614                       2,433                    NA







Unaudited Statement of Total Return
(incorporating the revenue account)


                                    Results for the year to 31 October 2005  Results for the year to 31 October 2004
                                     Revenue         Capital        Total    Revenue      Capital       Total
                                       #'000           #'000        #'000      #'000        #'000       #'000
Accrued redemption premium               -             2,614        2,614        -          2,433       2,433
receivable from parent company
Gross revenue and capital gains          -             2,614        2,614        -          2,433       2,433
Return on ordinary activities            -             2,614        2,614        -          2,433       2,433
before taxation
Appropriations in respect of non-
equity shares:
Zero dividend preference shares          -            (2,614)     (2,614)        -         (2,433)     (2,433)
Transfer to/(from)reserves               -               -            -          -            -           -
Return  per share- pence
Ordinary Share - pence                   -               -            -          -            -           -
Zero dividend preference shares-         -             9.52p        9.52p        -          8.86p       8.86p
pence



                                                              At 31 October 2005           At 31 October 2004
Unaudited Summary Balance Sheet                                            #'000                        #'000

Debtors:
Amounts receivable from parent company in respect of
accrued redemption entitlement on zero dividend
preference shares                                                         36,349                       33,735
Other amount receivable from parent company                                   50                           50
                                                                          36,399                       33,785

Net Assets                                                                36,399                       33,785

Share capital and reserves                                                36,399                       33,785

Net asset value per zero dividend preference                             132.34p                      122.82p
share-pence



Notes

1. The Company is a wholly owned subsidiary of Schroder Split Investment Fund
plc, a company incorporated in Great Britain 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 2005 or the year ended 31 October 2004. The statutory accounts
for the year to 31 October 2004 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 2005 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.



This announcement is prepared on the basis of the accounting policies as set out
in the most recent published set of annual financial statements.





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 2006 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
John Spedding                    (020 7658 3206)
22 December 2005.






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