Purchase of Own Securities

Scottish Mortgage & Trust PLC
30 August 2000


ON 29 AUGUST 2000, THE COMPANY PURCHASED FOR CANCELLATION 115,000 ORDINARY
SHARES AT A PRICE OF 477.125P.
ON 30 AUGUST 2000, THE COMPANY PURCHASED FOR CANCELLATION 100,000 ORDINARY
SHARES AT A PRICE OF 480.25P.
THIS BRINGS THE TOTAL NUMBER OF SHARES BOUGHT BACK TO 26,958,633.  THERE
REMAINS 333,761,367 SHARES IN ISSUE.