Re Directorate

Securities Trust of Scotland PLC
14 November 2001

                     Securities Trust of Scotland plc

               Stock Exchange Announcement - 14th November 2001

Headline - Appointment of a new non-executive director

The board of Securities Trust of Scotland plc is pleased to announce the
appointment of Michael Walker as a non-executive director of the company with
effect from the conclusion of today's extraordinary general meeting. Mr Walker
is managing partner of solicitors, Maclay Murray & Spens, in Glasgow. He has
extensive experience of company and commercial law and is also a non-executive
director of John Menzies plc, Murray VCT2 plc, Murray VCT3 plc and Scottish
Screen.

There are no details on Mr Walker which require to be disclosed in relation to
paragraph 6.F.2(b) to (g) of the listing rules.