Holding(s) in Company

    SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES                   

All relevant boxes should be completed in block capital letters.

1. Name of company                   2. Name of shareholder having a major     
                                        interest                               
   Scottish Value Trust plc                                                    
                                        Legal & General Group plc              

3. Please state whether notification 4. Name of the registered holder(s) and,  
   indicates that it is in respect      if more than one holder, the number of 
   of holding of the shareholder        shares held by each of them            
   named in 2 above or in respect of                                           
   a non-beneficial interest or in      HSBC Global Custody Nominee (UK) Ltd   
   the case of an individual holder                                            
   if it is a holding of that           A/c 914945 - 23,288                    
   person's spouse or children under                                           
   the age of 18                        A/c 775245 - 627,401                   
                                                                               
   Beneficial interest                  A/c 357206 - 1,582,022                 
                                                                               
                                        A/c 747381 - 109,000                   
                                                                               
                                        A/c 866203 - 65,000                    
                                                                               
                                        A/c 360509 - 93,512                    

5. Number of      6. Percentage of  7. Number of shares 8. Percentage of      
   shares/amount     issued class      /amount of stock    issued class       
   of stock                            disposed                               
   acquired                                                0.6 %              
                                       320,000                                
   Nil                                                                        

9. Class of security                10. Date of          11. Date company      
                                        transaction          informed          
   Ordinary Shares                                                             
                                        11 August 2003       12 August 2003    

12. Total holding following this     13. Total percentage holding of issued    
    notification                         class following this notification     
                                                                               
    2,500,223                            4.6 %                                 

14. Any additional information       15. Name of contact and telephone number  
                                         for queries                           
    The current issued share capital                                           
    of Scottish Value Trust plc is       Carolina Viola                        
    54,269,546Ordinary Shares.                                                 
                                         SVM Asset Management Limited          
                                                                               
                                         0131 226 6699                         

16. Name and signature of authorised company official responsible for making   
    this notification                                                          
                                                                               
    Carolina Viola                                                             
                                                                               
Date of notification ________13 August_____________2003_________               



END