Holding(s) in Company

SCHEDULE 10

                    NOTIFICATION OF MAJOR INTERESTS IN SHARES


        All relevant boxes should be completed in block capital letters.

1. Name of company                            2. Name of shareholder having
                                              a major interest

Securities Trust of Scotland plc              Bear Stearns International
                                              Trading Limited

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

As in 2                                       As in 2

5. Number of       6. Percentage of   7. Number of        8. Percentage of
shares/amount of   issued class       shares/amount of    issued class
stock acquired                        stock disposed

  Not advised       Not advised        Not advised         Not advised


9. Class of security                  10. Date of         11. Date company
                                      transaction         informed
Ordinary shares
                                       Not advised        8 April 2005

12. Total holding following           13. Total percentage holding of
this notification                     issued class following this
                                      notification

9,212,896                             3.02%

14. Any additional information        15. Name of contact and telephone
                                      number for queries

At close of business on 6 April
2005, Bear Stearns                    Jan Wilson 0131 479 4774
International Trading Limited
beneficially owned 9,212,896
ordinary shares of Securities
Trust of Scotland plc

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

Martin Currie Investment Management Limited

Date of notification 08 April 2005