Portfolio Update - Quarterly

Securities Trust of Scotland plc
                    Stock Exchange Announcement - 3 July 2007


In  accordance  with  the Listing Rules, which require,  inter  alia,  UK-listed
investment  companies to notify to a Regulatory Information Service, within  two
business days of the end of each quarter, a list of all investments held by them
with  a  value  greater than 5% of the company's gross assets and at  least  the
company's  10  largest investments as at the last business day of that  quarter,
Securities Trust of Scotland plc announces that, as at
29 June 2007, its 10 largest investments were:

                                 % of gross
                                   assets
BP                                  6.28
HSBC Holdings (UK REGD)             6.07
Royal Dutch Shell 'B'               5.65
Royal Bank of Scotland plc          4.88
British American Tobacco            4.56
Vodafone Group                      4.53
GlaxoSmithkline                     3.13
Barclays                            3.09
BHP Billiton                        2.80
BT Group                            2.61



For further information, please contact:

Ross Watson
Martin Currie Investment Management Ltd                0131 229 5252