Portfolio Update

Scottish Mortgage Inv Tst PLC
06 October 2005

                     SCOTTISH MORTGAGE INVESTMENT TRUST PLC

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



30 September 2005


No     Holding                                                        % of Total
                                                                          Assets

1.     Vodafone                                                             3.3%
2.     Petrobras                                                            3.2%
3.     Gazprom                                                              2.6%
4.     Royal Bank of Scotland                                               2.4%
5.     Samsung Electronics                                                  2.3%
6.     GlaxoSmithKline                                                      2.3%
7.     Barclays                                                             2.3%
8.     British American Tobacco                                             2.2%
9.     EOG Resources                                                        2.2%
10.    BHP Billiton                                                         2.0%

% Total Assets calculated based on assets valued on a mid basis





                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                  6 October 2005


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