Transaction in Own Shares

Scottish Mortgage Inv Tst PLC
02 October 2006


                     Scottish Mortgage Investment Trust PLC

                           Purchase of Own Securities

On 29 September 2006, the Company purchased 60,000 ordinary shares at a price of
491.5p.  The shares purchased will be held in Treasury. The total number of
ordinary shares bought back amounts to 76,883,824.

There remains 283,836,176 ordinary shares in issue.  A total of 510,000 shares
which have been purchased by the Company are being held in Treasury.  Shares
will only be re-sold from Treasury at (or at a premium to) the Net Asset Value
per Ordinary share.

                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                  2 October 2006


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