Purchase of Own Securities

Caledonian Trust PLC
26 May 2004


                      Caledonian Trust PLC ('the Company')

                           Purchase of Own Securities


Caledonian Trust PLC ('the Company') announces:-


On 25 May 2004 the Company acquired a total of 6,000 of its own Ordinary Shares
as detailed below:-


1.  The transaction was effected on 25 May 2004


2.  The securities acquired were Ordinary Shares of 20p each in the
capital of the Company.   The shares were purchased by way of a market
transaction at a price of 117p per share


3.  The shares will be cancelled


4.  Following this buy-back the issued ordinary share capital of the
Company will be 11,412,923 Ordinary Shares of 20p each


Copies of this announcement are available free of charge from the Company's head
office at 61 North Castle street, Edinburgh, EH2 3LJ and will also be available
free of charge from 26 May 2004 until 26 June 2004 in the offices of Noble &
Company Limited, 76 George Street, Edinburgh, EH2 3BU.


For further information please contact:


Alasdair Robinson, Noble & Company Limited             Tel: [phone]


26 May 2004


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