Portfolio Update

Scottish Mortgage Inv Tst PLC
05 October 2006




                     SCOTTISH MORTGAGE INVESTMENT TRUST PLC

   Statement of Top Ten Investments and all Holdings Over 5% of Total Assets


30 September 2006

No      Holding                                                       % of Total
                                                                          Assets

1.      Petrobras                                                           3.2%
2.      Gazprom                                                             3.2%
3.      Samsung Electronics                                                 2.8%
4.      Royal Bank of Scotland                                              2.7%
5.      British American Tobacco                                            2.4%
6.      Barclays                                                            2.4%
7.      Ebay                                                                2.3%
8.      Atlas Copco                                                         2.3%
9.      SAP                                                                 2.2%
10.     Omnicom                                                             2.1%


                                                           Baillie Gifford & Co.
                                                             Company Secretaries

                                                                  5 October 2006


                      This information is provided by RNS
            The company news service from the London Stock Exchange