Purchase of Own Securities

Scottish Mortgage & Trust PLC
6 September 2000


ON 05 SEPTEMBER 2000, THE COMPANY PURCHASED FOR CANCELLATION 150,000 ORDINARY
SHARES AT A PRICE OF 491.00P, BRINGING THE TOTAL NUMBER OF SHARES BOUGHT BACK
TO 27,777,112.  THERE REMAINS 332,942,888 SHARES IN ISSUE.