Directors' Dealings

Scottish American Investment Co PLC
3 December 1999

Schedule 11 - Notification of interests of Directors and Connected Persons

1   Name of company:
The Scottish American Investment Company PLC

2   Name of director:
Sir John C Shaw

3   Please state whether notification indicates that it is in respect of     
holding of the director named in 2 above or holding of that person's spouse or
children under the age of 18 or in respect of a non- beneficial interest:
Sir John C Shaw

4   Name of registered holder(s) and, if more than one holder, the number of 
shares held by each of them (if notified):


5   Please state whether notification relates to a person(s) connected with  
the director named in 2 above and identify the connected person(s):


6   Please state the nature of the transaction. For PEP transactions please  
indicate whether general/single co PEP and if discretionary/non discretionary:
Sir John Shaw is only notified of transactions effected through SAINTS PEP
Schemes at six-monthly intervals.  The Scheme invests in SAINTS and other
companies' shares which are selected by the Plan Managers and the purchases
noted above have been financed by the receipt of dividends/interests into the
Scheme.  

7   Number of shares/amount of stock acquired:
Date       Ordinary Shares       Price
          
14.04.99       40                £2.24
11.05.99       29                £2.305
02.06.99       5                 £2.205
06.07.99       3                 £2.35
13.07.99       38                £2.43
01.09.99       4                 £2.47


8   Percentage of issued class:


9   Number of shares/amount of stock disposed:


10  Percentage of issued class:


11  Class of security:
Ordinary 25p shares

12  Price per share:
As above

13  Date of transaction:
As above

14  Date company informed:
2nd December 1999

15  Total holding following this notification:


16  Total percentage holding of issued class following this notification:


If a director has been granted options by the company, please complete the
following fields:

17  Date of grant:


18  Period during which or date on which exercisable:


19  Total amount paid (if any) for grant of the option:


20  Description of shares or debentures involved: class, number:


21  Exercise price (if fixed at time of grant) or indication that price is to
be fixed at time of exercise:


22  Total number of shares or debentures over which options held following
this notification:


23  Contact name for queries:
James Ayling of Stewart Ivory & Company Limited

24  Contact telephone number:
0131 226 3271

25  Name of company official responsible for making notification:
As above





Additional Information: