Purchase of Own Securities

Scottish Mortgage & Trust PLC 31 January 2000 ON 28 JANUARY 2000, THE COMPANY PURCHASED FOR CANCELLATION 100,000 ORDINARY SHARES AT A PRICE OF 454.50P, BRINGING THE TOTAL NUMBER OF SHARES BOUGHT BACK TO 7,734,000. THERE REMAINS 352,986,000 SHARES IN ISSUE.
UK 100

Latest directors dealings