Director Shareholding

SCHEDULE 11                                  

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS          

All relevant boxes should be completed in block capital letters.

1.  Name of company                     2.  Name of director                   
                                                                               
    Securities Trust of Scotland plc        Andrew Robertson Irvine            



3.  Please state whether notification   4.  Name of the registered holder(s)   
    indicates that it is in respect of      and, if more than one holder, the  
    holding of the shareholder named in     number of shares held by each of   
    2 above or in respect of a              them (if notified)                 
    non-beneficial interest or in the                                          
    case of an individual holder if it                                         
    is a holding of that person's                                              
    spouse or children under the age of                                        
    18 or in respect of an                                                     
    non-beneficial interest                                                    
                                                                               
    Spouse                                  Andrew Robertson Irvine            



5.  Please state whether notification   6.  Please state the nature of the     
    relates to a person(s) connected        transaction. For PEP transactions  
    with the director named in 2 above      please indicate whether general/   
    and identify the connected person       single co PEP and if discretionary/
    (s)                                     non discretionary /non             
                                            discretionary                      
                                                                               
    Audrey M Irvine                         Share purchase                     



7.   Number of       8.   Percentage of 9.   Number of       10.  Percentage of
     shares/amount        issued class       shares/amount        issued class 
     of stock                                of stock                          
     acquired                                disposed                          
                                                                               
     50,000               0.016%                                               



11.  Class of       12.  Price per     13.  Date of        14.  Date company  
     security            share              transaction         informed      
                                                                              
     Ordinary            79.00p             24 September        24 September  
     shares                                 2002                2002          



15.  Total holding following this       16.  Total percentage holding of issued
     notification                            class following this notification 
                                                                               
     70,000                                  0.022%                            



If a director has been granted options by the company please complete the
following boxes.

17.  Date of grant                      18.  Total percentage holding of issued
                                             class following this notification 
                                                                               



19.  Total amount paid (if any) for     20.  Description of shares or          
     grant of the option                     debentures involved: class, number
                                                                               



21.  Exercise price (if fixed at time   22.  Total number of shares or         
     of grant) or indication that price      debentures over which options held
     is to be fixed at time of exercise      following this notification       
                                                                               



23.  Any additional information         24.  Name of contact and telephone     
                                             number for queries                
                                                                               
                                             Sean Keltie: 0131-479-5863        



25.   Name and signature of authorised company official responsible for making 
      this notification                                                        
                                                                               
      Martin Currie Investment Management Limited                              
                                                                               
      Date of notification: 24 September 2002