Director Shareholding

Scottish American Investment Co PLC
18 January 2002


THE SCOTTISH AMERICAN INVESTMENT COMPANY PLC

Mr William Berry (a Director) notified the Company by letter dated 17th
January 2002 that he had resigned as a Trustee of S G Younger's 1985 Trust.
With effect from 16th January 2002 Mr Berry no longer has an interest in the
Trust's holding of 6,752 shares.