Asset Allocation Announcement

Securities Trust of Scotland plc
                   Stock Exchange Announcement - 22 June 2005


In  light  of  the  company's proposed reconstruction and winding  up,  per  the
Circular  dated  23  May  2005,  the following additional  information  will  be
provided on a daily basis until 27 June 2005:

Total assets as at close of business on 21 June 2005:   £336,430,900 *

of which:

1.   equity investments are £108,726,811

2.   UK fixed interest securities are £17,436,409;  and

3.   sterling cash is £210,267,680


*repayment of £25 million credit facility


For further information, please contact:

Michael Woodward
Martin Currie Investment Management Ltd                0131 229 5252