Purchase of Own Securities

Caledonian Trust PLC
12 May 2004





Caledonian Trust PLC - Purchase of Own Securities





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



On 12 May 2004 the Company acquired a total of 83,346 of its own Ordinary Shares
as detailed below:-



1.         The transaction was effected on 12 May 2004



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 120p per share.



3.         The shares will be cancelled.



4.         Following this buy-back the issued ordinary share capital of the
           Company will be 11,418,923 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 12 May 2004 until 12 June 2004 in the offices of Noble &
Company Limited, 76 George Street, Edinburgh, EH2 3BU.



12 May 2004




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