Rule 2.10 announcement

NOT  FOR  RELEASE,  PUBLICATION OR DISTRIBUTION IN OR INTO  THE  UNITED  STATES,
CANADA, AUSTRALIA OR JAPAN.

To: London Stock Exchange         For immediate release  3 March 2005
Securities Trust of Scotland plc

The  Board  of  Securities  Trust  of Scotland plc  (the  "Company")  notes  the
announcement made today by Perpetual Income and Growth Investment Trust  plc  in
relation to the unsolicited offer for the Company.

The  Board  is  considering its response to the offer and will  make  a  further
announcement in due course.

Enquiries:

Michael Woodward
Martin Currie Investment Management Limited       0131 229 5252

Angus Gordon Lennox / Julian Cazalet
JP Morgan Cazenove Limited                   0131 7588 2828