Update re Proposals

Securities Trust of Scotland PLC
17 May 2005


Securities Trust of Scotland plc

Anticipated posting date

The Board of Securities Trust of Scotland plc announces that it expects to
receive the relevant regulatory approvals to enable it to publish on 23 May 2005
the documentation to convene the extraordinary general meetings to implement its
proposals for the reconstruction of the company.

On the basis of this anticipated timing and subject to shareholder approval, the
proposals will be implemented by the end of June.


Enquiries:

Mike Woodward

Martin Currie    Investment Management Limited               0131 229 5252

Angus Gordon Lennox

JPMorgan Cazenove Limited                                    020 7588 2828

END

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