Purchase of Own Securities

Scottish Mortgage & Trust PLC
30 April 2002

                      The Scottish Mortgage and Trust PLC

                           Purchase of Own Securities

On 29 April 2002, the Company purchased for cancellation 300,000 ordinary shares
at a price of 359.00p, bringing the total number of ordinary shares bought back
to 52,335,312.

There remain 308,384,688 ordinary shares in issue.

                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                   30 April 2002



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

POSIIFVASFIIVIF