Director Shareholding

SCHEDULE 11

NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company
Edinburgh Dragon Trust plc


2) Name of director
Iain A Watt


3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a 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 a non-beneficial interest
In respect of 2 above


4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them (if notified)
Iain Alasdair Watt                      10,521 shares
Mrs Lynne Neilson Watt                  4,125 shares
 Bell & Scott WS (Nominees) Ltd A/C W2581    1,250 shares
Lloyds TSB Registrars Savings Nominees Ltd   1,422 shares


5) Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s)
As in 2 above


6) Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/non
discretionary
Monthly Purchase through savings scheme


7) Number of shares/amount of stock acquired
67 shares


8) Percentage of issued class
N/a


9) Number of shares/amount of stock disposed
N/a


10) Percentage of issued class
N/a


11) Class of security
Ordinary


12) Price per share
74.0p


13) Date of transaction
24 October 2003


14) Date company informed
27 October 2003


15) Total holding following this notification
17,318 (of which 1,250 are held in Trust)


16) Total percentage holding of issued class following this notification
0.0%


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

17) Date of grant
n/a


18) Period during which or date on which exercisable
n/a


19) Total amount paid (if any) for grant of the option
n/a


20) Description of shares or debentures involved: class, number
n/a


21) Exercise price (if fixed at time of grant) or indication that price
is to be fixed at time of exercise
n/a


22) Total number of shares or debentures over which options held
following this notification
n/a


23) Any additional information
n/a


24) Name of contact and telephone number for queries
     Valerie Mackenzie, tel: [phone]

25) Name and signature of authorised company official responsible for
making this notification

Date of Notification 27 October 2003