Issue of Equity re STS

Lowland Investment Co PLC
27 June 2005


LOWLAND INVESTMENT COMPANY PLC

27 JUNE 2005



Lowland Investment Company plc
Issue of Equity


The board of Lowland Investment Company plc announces that 2,942,749 new shares
of 25p each ('Shares') will be issued in connection with the reconstruction of
Securities Trust of Scotland plc ('Securities Trust').

Application has been made to the UK Listing Authority and to the London Stock
Exchange to list the Shares on the Official List. The Shares will be issued at
734.0074p per Share to holders of Securities Trust shares who elected to receive
them.

The Shares will rank pari passu with the existing ordinary shares. As a result
of the issue, the Company will have 24,267,954 shares in issue.

Dealings in the Shares are expected to commence at 8 a.m. on 28 June 2005.

Chairman John Hancox commented 'We are very pleased to have achieved a 14.1 per
cent increase in the size of Lowland's net assets. This increase has been at no
cost to existing shareholders and indeed has resulted in a small enhancement to
their net asset value through the issue of the Shares at a premium.

We welcome the new shareholders in Lowland. As the new shares are only being
issued to Securities Trust shareholders who positively elected to receive
Lowland shares we believe that these new shareholders appreciate the Company's
long term record of superior growth in both capital and income, a record which
we shall do all that we can to continue.'



                                     -ENDS-


For further information please contact:

James Henderson
Fund Manager
Lowland Investment Company plc
Tel: [phone]

James de Sausmarez
Head of Investment Trusts
Henderson Global Investors
Telephone: [phone]




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