Purchase of Own Securities

SCOTTISH AMERICAN INVESTMENT COMPANY PLC
29 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 29th July 1999, it purchased for cancellation
100,000 ordinary shares in the market at a price of
249.5p per ordinary share, and 500,000 ordinary shares in
the market at a price of 249p per ordinary share.  There
remains 196,254,943 ordinary shares in issue.

Enquiries:

Teddy Tulloch, Stewart Ivory & Co. 0131 226 3271