Director Shareholding

Scottish American Investment Co PLC
10 January 2001

THE SCOTTISH AMERICAN INVESTMENT COMPANY PLC

Mr William Berry (a Director) notified the Company by letter on 9th January
2001 that he became aware on 8th January 2001 that a Trust of which he is a
trustee with no beneficial interest sold 1,700 Ordinary shares at £2.515 per
share in the Company on 20th December 2000. Mr Berry was not consulted and had
no part in the decision.