Purchase of Own Securities

SCOTTISH AMERICAN INVESTMENT COMPANY PLC
20 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
19th July 1999 it purchased for cancellation 325,000 ordinary
shares in the market at a price of
261 1/2p per ordinary shares.  There remains 197,628,943
shares in issue.

Enquiries:

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