Holding(s) in Company

Scottish American Investment Co PLC
24 December 2002



Notification of Major Interests in Shares

1 Name of company:

The Scottish American Investment Company Plc

2 Name of shareholder having a major interest:

Legal & General Investment Management Limited

3 Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18:


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

HSBC Global Custody Nominee (UK) Limited A/C 775245 - 700,000
HSBC Global Custody Nominee (UK) Limited A/C 357206 - 2,923,813
HSBC Global Custody Nominee (UK) Limited A/C 747381 - 275,000
HSBC Global Custody Nominee (UK) Limited A/C 866203 - 184,500
HSBC Global Custody Nominee (UK) Limited A/C 360509 - 161,990

5 Number of shares/amount of stock acquired:

None

6 Percentage of issued class:

N/A

7 Number of shares/amount of stock disposed:

None

8 Percentage of issued class:

N/A

9 Class of security:

Ordinary shares of 25p

10 Date of transaction:

20th December 2002

11 Date company informed:

23rd December 2002

12 Total holding following this notification:

4,245,303

13 Total percentage holding of issued class following this notification:

3.08%

14 Contact name for queries:

Shona Darling of First State Investments (UK)

15 Contact telephone number:

0131 473 2200

16 Name of company official responsible for making notification:

As above

17 Date of notification:

24th December 2002


                      This information is provided by RNS
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