Disposal

Caledonian Trust PLC
28 September 2001

CALEDONIAN TRUST PLC

DISPOSAL

Caledonian Trust PLC ('Caledonian') announces that its wholly-owned subsidiary
Caledonian Stoneywood Limited ('Stoneywood') has today concluded an
unconditional agreement to sell its principal asset, the Stoneywood Business
Centre, Stoneywood Road, Dyce, Aberdeen, to BP Properties Limited, a
wholly-owned subsidiary of BP PLC.

The Stoneywood Business Centre was held as a long-term property investment by
Stoneywood and comprises a warehouse building extending to 215,000 ft(2) or
thereby with adjoining offices extending to approximately 11,000 ft(2) located
on a 15 acre site fronting the A947 road at Dyce, Aberdeen. It is currently
divided into 14 separate units, 13 of which are currently let on short-term
leases.

The maximum consideration payable is £9.05 million and will be paid in two
tranches £7 million payable in January 2002 with the balance due in November
2002. The value attributable to these assets as stated in the last published
audited accounts of Caledonian for the period ended 30 June 2000 was £6
million. The Stoneywood Business Centre contributed approximately £105,000 to
group profits in the year to 30 June 2000.

This disposal will benefit Caledonian by using the net proceeds of sale, after
meeting all costs, to repay debt and for working capital.

END



28.09.01