Portfolio Update

Scottish Mortgage Inv Tst PLC
05 January 2007







                     SCOTTISH MORTGAGE INVESTMENT TRUST PLC

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



31 December 2006


No      Holding                                             % of Total
                                                               Assets

1.      Petrobras                                              3.3%
2.      eBay                                                   2.9%
3.      Royal Bank of Scotland                                 2.8%
4.      Atlas Copco                                            2.7%
5.      Gazprom                                                2.6%
6.      Barclays                                               2.5%
7.      SAP                                                    2.4%
8.      Samsung Electronics                                    2.4%
9.      British American Tobacco                               2.3%
10.     Vale                                                   2.2%





                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                  5 January 2007




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