Net Asset Value(s)

Martin Currie Investment Management Limited, as company secretary, announces the unaudited net asset value (compiled on the AITC basis excluding current period revenue unless otherwise stated) of Securities Trust of Scotland plc as at the close of business on 28 Jan 2003 Per Ordinary Share: 80.01p ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/01/29/20030129BIT00840/wkr0001.doc http://www.waymaker.net/bitonline/2003/01/29/20030129BIT00840/wkr0002.pdf