Purchase of Own Securities

SCOTTISH AMERICAN INVESTMENT COMPANY PLC
15 July 1999


Scottish American Investment Company plc

Purchase of Ordinary Shares for Cancellation

Further to the announcement made on 14th July, 1999, Scottish
American Investment Company plc (the 'Company') announces that
it acquired for cancellation a further 2,202,707 Ordinary
Shares at 258p per share on 14th July 1999.

The Company has now purchased 24,154,057 Ordinary Shares under
the authority granted at the Annual General Meeting in March,
1999 which enabled it to purchase up to 33,518,830 Ordinary
Shares.

As mentioned in the interim statement published on 14th July,
1999 the Company will consider acquiring, through Cazenove &
Co., further Ordinary Shares for cancellation.

Enquiries:

Angus Gordon Lennox, Cazenove & Co.          0171 588 2828

Teddy Tulloch, Steward Ivory                 0131 226 3271