Purchase of Own Securities

Scottish American Investment Co PLC
15 January 2002

The Scottish American Investment Company plc

Repurchase of ordinary shares for cancellation

The Scottish American Investment Company plc announces that on 15 January 2002
it purchased for cancellation 300,000 ordinary shares in the market at a price
of 188.75p per ordinary share. There remain 146,604,943 ordinary shares in
issue.

END