Repayment of Bonds

Securities Trust of Scotland PLC
25 May 2005

25 May 2005

For immediate release



SECURITIES TRUST OF SCOTLAND PLC

£50,000,000 6.25% secured bonds due 2031



The company announces that it has today repurchased all of the above stock for
cancellation at a cost (including accrued interest) of £65,168,055.56.



Further information:



Securities Trust of Scotland: Mike Woodward, 0131 229 5252

JPMorgan Cazenove: Francis Burkitt, 020 7155 4924




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