Purchase of Own Securities

Scottish American Investment Co PLC
29 June 2001

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

Repurchase of ordinary shares for cancellation

The Scottish American Investment Company plc announces that on 29 June, 2001
it purchased for cancellation 75,000 ordinary shares in the market at a price
of 217p per ordinary share and 1,166,000 ordinary shares in the market at a
price of 219p. There remain 152,879,943 ordinary shares in issue.

END