Purchase of Own Securities

Caledonian Trust PLC
18 January 2002

Caledonian Trust PLC ('the Company') announces:-

On 18 January 2002 the Company acquired a total of 105,000 of its own Ordinary
Shares as detailed below:-

1.         The transaction was effected on 18 January 2002

2.         The securities acquired were Ordinary Shares of 20p each in the
capital of the Company. The shares were purchased by way of a market
transaction at a price of 98p per share.

3.         The shares will be cancelled.

4.             Following this buy-back the authorised and issued ordinary
share capital of the Company will be 11,512,769 Ordinary Shares of 20p each.

Copies of this announcement are available free of charge from the Company's
head office at 61 North Castle Street, Edinburgh, EH2 3LJ and will also be
available free of charge from 18 January 2002 until 18 February 2002 in the
offices of Noble & Company Limited, 4th Floor, 1 Frederick's Place, London,
EC2R 8AB



18 January 2002