AGM Statement

Scottish Mortgage Inv Tst PLC
29 June 2006

                     SCOTTISH MORTGAGE INVESTMENT TRUST PLC

                      Annual General Meeting, 28 June 2006



At the AGM held on 28 June 2006 all resolutions were passed, including those
detailed below:

•                                Shareholders approved a special resolution
renewing the Company's authority to make market purchases of up to 14.99% of the
Company's issued share capital, being 42,623,491 ordinary shares of 25p. The
Company's new authority now permits it to hold shares bought back 'in treasury'.
Such treasury shares may subsequently be either sold for cash or cancelled. This
authority will expire at the conclusion of the AGM to be held in 2007 or on 27
December 2007, whichever is earlier, unless previously varied, revoked or
renewed.



•                                Shareholders approved a special resolution
granting the Company authority to allot authorised but unissued shares on a non
pre-emptive basis up to £7,145,628, being 10% of the issued share capital of the
Company as at 9 May 2006. This authority permits the sale of shares out of
treasury. The Directors do not intend to use these powers to re-issue shares at
a discount to net asset value. This authority will expire at the conclusion of
the AGM to be held in 2007 or on 27 December 2007, whichever is earlier.



The full text of all the resolutions can be found in the Notice of Annual
General Meeting contained in the Annual Report and Accounts, copies of which are
available for viewing at the UK Listing Authority's Document Viewing Facility,
which is situated at:



Financial Services Authority

25 The North Colonnade

Canary Wharf

London

E14 5HS



Tel. no. (0)20 7676 1000





                                                            Baillie Gifford & Co

                                                        Managers and Secretaries

                                                                    29 June 2006








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