Repurchase of ordinary shares

Scottish American Investment Co PLC
22 January 2002



The Scottish American Investment Company plc

Repurchase of ordinary shares for cancellation

The Scottish American Investment Company plc announces that on 22 January 2002

it purchased for cancellation 100,000 ordinary shares in the market at a price

of 187.5p per ordinary share. There remain 146,304,943 ordinary shares in

issue.

END





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