Dividend Declaration

Scottish American Investment Co PLC
17 October 2001


THE SCOTTISH AMERICAN INVESTMENT COMPANY PLC

The Directors of The Scottish American Investment Company PLC (SAINTS) have
today declared a third quarterly dividend in respect of the year to 31st
December 2001 of 1.39p per Ordinary share (third quarterly 2000 - 1.38p)
payable on 3rd January 2002 to shareholders registered on 23rd November 2001.