Holding in Company

Scottish Mortgage & Trust PLC
1 June 2001

Schedule10 - Notification of Major Interests in Shares

Number of reports in announcement:

1

Company Name:

THE SCOTTISH MORTGAGE & TRUST

Full Issuer Name:

THE SCOTTISH MORTGAGE & TRUST PLC

AVS Security Number:

Unknown

Release Date:

IMMEDIATELY

Release Time:

IMMEDIATELY

Embargo Details:



Telephone Confirmation of Release Required:

No

Contact Name:

DOUGLAS RENNIE

Tel. No:

0131 474 3233

Announcement Given To Third Parties:

No

Amendment:

No

Headline:

Holding in company







Schedule 10 - Notification of Major Interests in Shares

1 Name of company:

THE SCOTTISH MORTGAGE & TRUST

2 Name of shareholder having a major interest:

STANLIFE NOMINEES LIMITED

3 Please state whether notification indicates that it is in respect of

holding of the shareholder named in 2 above or in respect of a non-beneficial

interest or in the case of an individual holder if it is a holding of that

person's spouse or children under the age of 18:



4 Name of registered holder(s) and, if more than one holder, the number of

shares held by each of them:



5 Number of shares/amount of stock acquired:



6 Percentage of issued class:



7 Number of shares/amount of stock disposed:

729,602

8 Percentage of issued class:

0.22%

9 Class of security:

ORDINARY 25P SHARES

10 Date of transaction:

31 MAY 2001

11 Date company informed:

1 JUNE 2001

12 Total holding following this notification:

9,286,913

13 Total percentage holding of issued class following this notification:

2.83%%

14 Contact name for queries:

DOUGLAS RENNIE

15 Contact telephone number:

0131 474 3233

16 Name of company official responsible for making notification:



17 Date of notification:











Additional Information:



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