Portfolio Update

Scottish Mortgage Inv Tst PLC
05 April 2006







                     SCOTTISH MORTGAGE INVESTMENT TRUST PLC

   Statement of Top Ten Investments and all Holdings Over 5% of Total Assets



31 March 2006


No      Holding                                                     % of Total
                                                                        Assets

1.      Petrobras                                                        3.6%
2.      Gazprom                                                          3.3%
3.      Royal Bank of Scotland                                           2.7%
4.      Samsung Electronics                                              2.6%
5.      SAP                                                              2.5%
6.      Barclays                                                         2.3%
7.      Atlas Copco                                                      2.3%
8.      British American Tobacco                                         2.2%
9.      Ebay                                                             2.1%
10.     GlaxoSmithkline                                                  2.1%





                                                           Baillie Gifford & Co.
                                                             Company Secretaries
                                                                    5 April 2006




                      This information is provided by RNS
            The company news service from the London Stock Exchange      PFUSSDFMISMSESL