APR Apr Energy

RNS No 6450j
SCOTTISH NATIONAL TRUST PLC
13th August 1998

ABERDEEN PREFERRED INCOME TRUST PLC ('ABPREF')
ABERDEEN PREFERRED SECURITIES PLC ('ABPREF SECURITIES')

OFFERS FOR SHARES IN THE SCOTTISH NATIONAL TRUST PLC ('SNT')

The Board of Abpref has noted the contents of today's circular from SNT.

The  SNT circular attacks the "lack of asset backing for the
Abpref  Offers".  As anyone familiar with investment  trusts
is  aware, a premium of share price over net asset value  is
the  ambition  of  every investment  trust  manager.   SNT's
argument may therefore be dismissed as irrelevant.

Abpref  considers  that  the SNT document  contains  no  new
arguments worthy of a response.  The document does, however,
repeat various misconceived and muddled points from the  SNT
circular of 31st July 1998.

Abpref wishes to re-iterate the following points:-

***  the  financial  effects  of acceptance  of  the  Abpref
     Offers  are  more attractive than those  of  making  an
     election  to  receive  Gartmore SNT  Shares  under  the
     Gartmore  SNT  Proposals.   This  has  still  not  been
     disputed by SNT or its advisers;

***  SNT  has  tried  to argue that investment  in  Aberdeen
     Preferred  Income is "risky" compared to investment  in
     Gartmore  SNT.  SNT's argument misrepresents  the  true
     position.  The  Gartmore  SNT  Income  Shares  and  the
     Gartmore SNT Capital Shares are more highly geared than
     Abpref's  Ordinary  Shares and are more  vulnerable  to
     downturns in the market;

***  the  Gartmore SNT Proposals are structurally inflexible
     and  SNT  Shareholders may not get what they elect  for
     under the Gartmore SNT Proposals.


Enquiries:

Chris Fishwick, Director,
Aberdeen Asset Managers Limited              Tel:  0171 463 6000

David Thomas, Investment Trust Dept.,
Brewin Dolphin Bell Lawrie Limited           Tel: 0171 246 1115

Louise Hatch
Penrose Financial                            Tel: 0171 726 8686/
                                             0498 626285


END

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