Change of Adviser

Scottish American Investment Co PLC
10 June 2003


The Scottish American Investment Company P.L.C.

CHANGE OF ADVISER


10th June 2003


The Directors of The Scottish American Investment Company P.L.C. are pleased to
announce the appointment today of Close Brothers Securities as corporate broker
to the Company, with immediate effect.


Enquiries:

Lucy Allan, First State Investment Management (UK) Limited
Tel: [phone]

Tom Durie, Close Brothers Securities
Tel. [phone]


Note: Close Brothers Securities is a division of Winterflood Securities Limited




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