Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL
                       PESPONSIBILTY AND CONNECTED PERSONS


        All relevant boxes should be completed in block capital letters.


1. Name of the issuer                         2. State whether the
                                              notification relates to
                                               (i) a transaction notified
SECURITIES TRUST OF SCOTLAND PLC              in accordance with
                                              DR 3.1.4R (1)(a); or
                                              (ii) DR 3.1.4(R)(b) a
                                              disclosure made in accordance
                                              with section 324 (as extended
                                              by section 328) of the
                                              Companies Act 1985;
                                              or
                                              (iii) both (i) and (ii)

                                              (III) BOTH (I) AND (II)


3. Name of person discharging managerial      4. State whether notification
responsibilities                              relates to a person connected
                                              with a person discharging
                                              managerial
                                              responsibilities/director
MICHAEL NEIL DONALDSON                        named in 3. and identify the
                                              connected person

                                              (REFER TO BOX 5)

5. Indicate whether the notification is in    6. Description of shares
respect of a holding of the person            (including class) debentures
referred to in 3. or 4. above or in           or derivatives or financial
respect of  a non-beneficial interest         instruments relating to
                                              shares

MICHAEL NEIL DONALDSON                        1P ORDINARY REDEEMABLE SHARES



7. Name of registered shareholders(s) and,    8.State the nature of the
if more than one, the number of shares        transaction
held by each of them
                                              PURCHASE WITHIN SAVINGS PLAN
ALLIANCE TRUST SAVINGS NOMINEES LIMITED




9. Number of shares, debentures or            10. Percentage of issued
financial instruments relating to shares      class acquired (treasury
acquired                                      shares of that class should
                                              not be taken into account
                                              when calculating percentage)
193.00
                                              0.0001880%



11. Number of shares, debentures or           12. Percentage of issued
financial instruments relating to shares      class disposed (treasury
disposed                                      shares of that class should
                                              not be taken into account
                                              when calculating percentage)




13. Price per share or value of               14. Date and place of
transaction                                   transaction


    £1.2954                                   15 MARCH 2006




15. Total holding following notification      16. Date issuer informed of
and total percentage holding following        transaction
notification (and treasury shares should
not be taken unto account when calculating
percentage)                                    15 MARCH 2006



27,245.00

0.026610%



If a person discharging managerial
responsibilities has been granted options
by the issue complete the following boxes



17. Date of grant                             18. Period during which or
                                              date on which it can be
                                              exercised






19. Total amount paid (if any) for grant      20. Description of shares or
of the option                                 debentures involved  (class
                                              and number)







21. Exercise price (if fixed at time of       22. Total number of shares
grant) or indication that price is to be      or debentures over which
fixed at the time of exercise                 options held following
                                              information






23.  Any additional information               24. Name of contact and
                                              telephone number for queries

                                              JAN WILSON 0131 474 4774


Name and signature of duly authorised
officer of issuer responsible for making
notification

MARTIN CURRIE INVESTMENT MANAGEMENT
LIMITED

Date of notification 21 MARCH 2006