Purchase of Own Securities

Scottish American Investment Co PLC
02 March 2004


                     Scottish American Investment Trust PLC

                           Purchase of Own Securities


On 2 March 2004, the Company purchased for cancellation 2,140,000 ordinary
shares at a price of 159.562p.

There remains 133,130,943 ordinary shares in issue.

                                                           Baillie Gifford & Co.
                                                             Company Secretaries
                                                                    2 March 2004


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