Directorate change

To: Stock Exchange                           For immediate release
                                             23 February 2005

                        Securities Trust of Scotland plc

Headline - Changes to directorate

The Board of Securities Trust of Scotland plc is pleased to announce the
appointment of Charles Berry and Edward Murray as non-executive directors of the
company, with effect from 23 February 2005. Mr Murray will chair the audit
committee. Both directors are independent, and were appointed following an
extensive search using the services of an independent recruitment consultant.

Mr Berry is Executive Director UK of Scottish Power plc, responsible in this
capacity for the UK energy businesses of Generation, Energy Management and
Supply. Prior to joining ScottishPower, in 1991, he was Group Development
Director of Norwest Holst, a subsidiary of Compagnie Generale des Eaux.

Mr Murray was a founding Director of British Linen Advisers, which was
established in 1999 as an independent corporate finance business, and is a
member of its Advisory Council. Prior to that, he was a Director of British
Linen Bank. Mr Murray is a non-executive financial consultant to Turcan Connell,
private client solicitors and asset managers, and is a non-executive member of
the Court of the University of St. Andrews.

Mr Berry's and Mr Murray's current and past directorships of public companies
are set out below.

There are no details regarding either Mr Berry or Mr Murray which require to be
disclosed in relation to paragraphs 6.F.2(b) to (g) of the listing rules.

As required by a change to the Listing Rules which becomes effective on 1 April
2005, that only one professional adviser to the management company may sit on an
investment trust board, Michael Walker will resign as a director of the company
with effect from 31 March 2005. The Board has reluctantly accepted Mr Walker's
resignation, and views this as an exceptionally unfortunate result of the change
to the Listing Rules, particularly in view of the insignificant, non-material
nature of Mr Walker's relationship with the managers.

The Chairman, David Whitaker, has intimated his intention to retire as a
director of the company at the company's annual general meeting to be held in
July 2005. The Board has elected Neil Donaldson as his successor.

Charles Berry's directorships:  Edward Murray's directorship:

Current                         Current
Scottish Power plc              Artemis AIM VCT 2 PLC
Scottish Power UK plc
Telephone Information Services
plc
Camjar plc

Past
SP Manweb plc
Thus Group plc
Thus plc

For more information, please contact:

Michael       [e-mail]      0131 229 5252
Woodward