Director Shareholding

Securities Trust of Scotland PLC
11 December 2001




1)        Name of company

Securities Trust of Scotland plc


2)        Name of director

Michael Walker



3)        Announcement body information



On 8 December 2001, Michael Walker became aware of an interest in 13,800
ordinary shares, as a trustee of John Templeton's trust.

Mr. Walker's total interest in the share capital of the company is therefore
14,800 ordinary shares.


Contact name for queries

Jan Wilson  0131 479 4774


Name of company official for making notification

Martin Currie Investment Management Limited