AGM Resolutions

Scottish American Investment Co PLC
25 March 2004

                THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C.

                     Annual General Meeting, 24 March 2004



At the AGM held on 24 March 2004, all resolutions were passed.

In particular Shareholders authorised the Company to renew its share buy back
authority:

•   Shareholders approved a special resolution renewing the Company's
    authority to make market purchases of up to 14.99 per cent of the Company's
    issued share capital, being 19,956,328 ordinary shares of 25p.

    Such authority will expire at the conclusion of the AGM to be held in 2005.



                                                           Baillie Gifford & Co.
                                                             Company Secretaries
                                                                   24 March 2004




                      This information is provided by RNS
            The company news service from the London Stock Exchange             SISLSESD