Purchase of Own Secs. etc.

SCOTTISH AMERICAN INVESTMENT COMPANY PLC
16 July 1999


THE SCOTTISH AMERICAN INVESTMENT COMPANY PLC

The Board obtained authority, at the Annual General Meeting in March 1999 to
purchase up to 14.99 per cent of its Shares.  Since that time the Company has
purchased 11.47 per cent of its issued Shares.  The Board has already
announced its intention of seeking authority from its Shareholders to enable
the Company to purchase up to a further 14.99 per cent of its Shares which
will allow it to continue the current programme. 

A Circular to Shareholders will be posted early next week convening an
Extraordinary General Meeting of the Company for the purposes of considering
such a resolution.