Transaction in Own Shares

Scottish Mortgage Inv Tst PLC
23 August 2006




The following replaces the Transaction in Own Shares announcement released on 22
August 2006 at 16.37pm under RNS number 9763H.



                     Scottish Mortgage Investment Trust PLC

                           Purchase of Own Securities


On 22 August 2006, the Company purchased 450,000 ordinary shares at a price of
477.66p.  The shares purchased will be held in Treasury. The total number of
ordinary shares bought back amounts to 76,823,824.

There remains 283,896,176 ordinary shares in issue. A total of 450,000 shares
which have been purchased by the Company are being held in Treasury. Shares
will only be re-sold from Treasury at (or at a premium to) the Net Asset Value
per Ordinary share.

                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                  23 August 2006



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