Purchase of Own Securities

SCOTTISH AMERICAN INVESTMENT COMPANY PLC
16 July 1999

The Scottish American Investment Company plc (the 'Company')

Repurchase of Ordinary Shares for cancellation


The Scottish American Investment Company plc announces that on
15th July, 1999 it purchased for cancellation 1,500,000
ordinary shares in the market at a price of 258p per ordinary
shares.  There remains 197,953,943 shares in issue.

Enquiries:

Teddy Tulloch, Stewart Ivory & Co.  0131 226 3271
Angus Gordon Lennox, Cazenove & Co.   0171 588 2828