Annual Report and Accounts

Scottish American Investment Co PLC
27 February 2006


The Scottish American Investment Company P.L.C.
Annual Report for the year ended 31/12/05


A copy of the above document has been submitted to the UK Listing Authority and
will shortly be available for inspection at the UK Listing Authority's Document
Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS

Tel. no. (0)20 7676 1000

                                                           Baillie Gifford & Co.
                                                             Company Secretaries
                                                                27 February 2006






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