Directors' Notification of Dealing in Shares

Securities Trust of Scotland PLC
5 May 2000


Schedule 11 - Notification of interests of Directors and Connected Persons

1   Name of company:
Securities Trust of Scotland

2   Name of director:
Mr Michael Neil Donaldson

3   Please state whether notification indicates that it is in respect of     
holding of the director named in 2 above or holding of that person's spouse or
children under the age of 18 or in respect of a non- beneficial interest:
As in 2

4   Name of registered holder(s) and, if more than one holder, the number of 
shares held by each of them (if notified):
Michael Neil Donaldson A/C ARD 4,209 shares
Michael Neil Donaldson A/C JAD 2,015 shares

5   Please state whether notification relates to a person(s) connected with  
the director named in 2 above and identify the connected person(s):
As in 2

6   Please state the nature of the transaction. For PEP transactions please  
indicate whether general/single co PEP and if discretionary/non discretionary:
As in 2

7   Number of shares/amount of stock acquired:
A/C ARD - 957 shares   A/C JAD - 83 shares

8   Percentage of issued class:
A/C ARD - 0.0003%   A/C JAD - 0.00003%

9   Number of shares/amount of stock disposed:


10  Percentage of issued class:


11  Class of security:
Ordinary shares 25p

12  Price per share:
A/C ARD Average price - 120.45p A/C JAD Average price - 123.67p

13  Date of transaction:
5 May 2000

14  Date company informed:
5 May 2000

15  Total holding following this notification:
A/C ARD - 4,209 shares A/C JAD - 2,015 shares 

16  Total percentage holding of issued class following this notification:
A/C ARD - 0.00134%   A/C JAD - 0.00064%

If a director has been granted options by the company, please complete the
following fields:

17  Date of grant:


18  Period during which or date on which exercisable:


19  Total amount paid (if any) for grant of the option:


20  Description of shares or debentures involved: class, number:


21  Exercise price (if fixed at time of grant) or indication that price is to
be fixed at time of exercise:


22  Total number of shares or debentures over which options held following
this notification:


23  Contact name for queries:
Sean Keltie

24  Contact telephone number:
0131-479 5863

25  Name of company official responsible for making notification:
Sean Keltie

Additional Information: