A scalar field with an exponential potential has the particular property that it is attracted into a solution in which its energy scales as the dominant component (radiation or matter) of the Universe, contributing a fixed fraction of the total energy density. We study the growth of perturbations in a flat CDM dominated universe with this extra field, with an initial flat spectrum of adiabatic fluctuations. The observational constraints from structure formation are satisfied as well, or better, than in other models, with approximately 10% of the energy density in the scalar field, which is small enough to be consistent with entry into the attractor prior to nucleosynthesis.