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GSCOT Securities PLC (GBAZ)

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Tuesday 25 September, 2001

GSCOT Securities PLC

Director Shareholding

GSCOT Securities PLC
25 September 2001

                                 SCHEDULE 11

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1)  Name of company

GSCOT Securities PLC

2)  Name of director

Alan Clfton


3)  Please state whether notification indicates that it is in respect of
 holding of the shareholder named in 2 above or in respect of a non-beneficial
interest or in the case of an individual holder if it is a holding of that
person's spouse or children under the age of 18 or in respect of a
non-beneficial interest



4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them (if notified)
Smith & Williamson Securities


5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)



6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary



7)  Number of shares/amount of
    stock acquired
20,000


8)  Percentage of issued class
0.06%


9)  Number of shares/amount
    of stock disposed



10) Percentage of issued class



11) Class of security
Zero Dividend Preference Shares


12) Price per share
69p


13) Date of transaction
21/9/01


14) Date company informed
21/9/01


15) Total holding following this notification
20,000


16) Total percentage holding of issued class following this notification
0.06%

If a director has been granted options by the company please complete the
following boxes

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information



24) Name of contact and telephone number for queries



25) Name and signature of authorised company official responsible for
    making this notification
Gurmit Harar


    Date of Notification...25 September 2001...............................



                                                                                
                                              

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