Dividend Declaration

Scottish American Investment Co PLC
16 April 2003



THE SCOTTISH AMERICAN INVESTMENT COMPANY PLC

The Directors of The Scottish American Investment Company PLC (SAINTS) have
today declared a first quarterly dividend in respect of the year to 31st
December 2003 of 1.41p (2002: 1.40p) per Ordinary share payable on 2nd July 2003
to shareholders registered on 30th May 2003.




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