Director Shareholding

SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


        All relevant boxes should be completed in block capital letters.

1. Name of company                                             2. Name of director

Securities Trust of Scotland plc                               Michael Neil Donaldson

3. Please state whether notification indicates that it is      4. Name of the registered holder(s) and,
in respect of holding of the shareholder named in 2 above      if more than one holder, the number of
or in respect of a non-beneficial interest or in the case      shares held by each of them (if notified)
of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of an
non-beneficial interest

As in 2.                                                       State Street Nominees Limited A/C DE8A


5. Please state whether notification relates to a person(s)    6. Please state the nature of the
connected with the director named in 2 above and identify      transaction. For PEP transactions please
the connected person(s)                                        indicate whether general/single co PEP
                                                               and if discretionary/non discretionary
                                                               /non discretionary

N/A                                                            Purchase within savings plan

7. Number of              8. Percentage of issued    9. Number of              10. Percentage of issued
shares/amount of stock    class                      shares/amount of stock    class
acquired                                             disposed

236.905                   0.00023%                   N/A                       N/A

11. Class of security     12. Price per share        13. Date of transaction   14. Date company informed

1p ordinary redeemable    £1.0050                    8 August 2005             8 August 2005
shares

15. Total holding following this                     16. Total percentage holding of issued class
notification                                         following this notification

25,720.384                                            0.0237840%

If a director  has been granted options by the company please complete the following boxes.

17. Date of grant                                    18. Period during which or date on which
                                                     exercisable


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


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

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

                                                     Jan Wilson 0131 479 4774

25. Name and signature of authorised company official responsible for making this notification

Martin Currie Investment Management Limited

Date of notification 9 August 2005