Purchase of Own Securities

Scottish Mortgage & Trust PLC
2 June 2000


ON 01 JUNE 2000, THE COMPANY PURCHASED FOR CANCELLATION 130,000 ORDINARY
SHARES AT A PRICE OF 455.75P, BRINGING THE TOTAL NUMBER OF SHARES BOUGHT BACK
TO 24,339,000.  THERE REMAINS 336,381,000 SHARES IN ISSUE.