Dividend Declaration & New Portfolio Manager

SCOTTISH AMERICAN INVESTMENT COMPANY PLC
20 October 1999


The Directors of The Scottish American Investment Company PLC (SAINTS) have
declared a third interim dividend in respect of the year to 31st December 1999
of 1.38p per Ordinary share payable on 5th January 2000 to shareholders
registered on 26th November 1999.

Marcus Brooks, who joined Stewart Ivory five years ago, is taking over as
SAINTS' portfolio manager from Teddy Tulloch.

Marcus has managed the UK assets for the last three years, and will continue
to be directly responsible for this part of the portfolio.  He will now also
lead the team of geographic specialists responsible for international
investments.