Director Shareholding

SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1)  Name of company

    MURRAY INTERNATIONAL TRUST PLC

2)  Name of director

    SIR RAYMOND JOHNSTONE

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

    SPOUSE

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

                                           ORDINARY

    BENFICIAL:
    CORP LLOYDS A/C SIR RAYMOND JOHNSTONE
     L/D 15957B                             20,384
    SIR RAYMOND JOHNSTONE                    5,857
    LADY SUSAN SARA JOHNSTONE                4,340
    NON BENEFICIAL:
    SIR RAYMOND JOHNSTONE                   18,191
                                            ------
                                            48,772
                                            ------

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

    Dividend reinvestment

7)  Number of shares/amount of
    stock acquired

    30 ORDINARY SHARES

8)  Percentage of issued class

    0.000035% - ORDINARY

9)  Number of shares/amount
    of stock disposed

    -
10) Percentage of issued class

    -
11) Class of security

    ORDINARY SHARES

12) Price per share

    368p XD

13) Date of transaction

    16 AUGUST 2004


14) Date company informed

    2 SEPTEMBER 2004

15) Total holding following this notification

    NON BENEFICIAL 18,191, BENEFICIAL 30,581

16) Total percentage holding of issued class following this notification

     NON BENEFICIAL 0.021%, BENEFICIAL 0.035%

     (BENEFICIAL HOLDING OF VOTING SHARES 0.035%)

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

    ANNETTE JOHNSTON 0141 306 7530

25) Name and signature of authorised company official responsible for
    making this notification
                          2 SEPTEMBER 2004
    Date of Notification..................................