The Board of Scottish Value Trust plc (the "Company") notes the recent
publication by the FSA of the Investment Entities (Listing Rules and Conduct of
Business) Instrument 2003. In accordance with the Company's objectives, it is
the Company's policy to invest no more than 15% of its gross assets in other
listed investment companies (including listed investment trusts).

Contact: Donald W Robertson / Carolina A Viola

SVM Asset Management Limited

0131 226 6699



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