Transaction in Own Shares

Scottish Mortgage Inv Tst PLC
13 March 2006



                     Scottish Mortgage Investment Trust PLC

                           Purchase of Own Securities

On 10 March 2006, the Company purchased for cancellation 500,000 ordinary shares
at a price of 497.074p, bringing the total number of ordinary shares bought back
to 72,644,885.

There remains 288,075,115 ordinary shares in issue.

                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                   13 March 2006



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