Further re Press Comment

Caledonian Trust PLC
17 July 2003

Caledonian Trust plc ('the Company')



Further re Press Comment


The Company notes that an action in the Court of Session has been raised by the
Department of Trade and Industry ('the DTI') against Mr Bryan Rankin, a non
executive director of the Company, whereby the DTI is seeking to disqualify Mr
Rankin as a company director under the Company Directors Disqualification Act
1986 in connection with his former role as a non executive director of Pierre
Victoire Limited. The Company has reviewed this information and will make a
further announcement if appropriate.



Enquiries:



Mike Baynham, Finance Director                      0131 220 0416


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