Result of AGM

Scottish American Investment Co PLC
28 March 2001


THE SCOTTISH AMERICAN INVESTMENT COMPANY PLC

RESULT OF ANNUAL GENERAL MEETING

All the resolutions proposed at the Annual General Meeting of the Company held
today were passed. In particular, the resolution seeking a further share buy
back authority was passed. Of the proxy votes cast for this resolution, 95%
were in favour. Accordingly, the Company now has the authority for further
share repurchases for 23,371,799 ordinary shares in the Company being 14.99%
of the issued share capital as at today's date.


Enquiries:

Marcus Brooks           0131 473 2200
Colonial First State Investments (UK)

Teddy Tulloch            0131 473 2200
Colonial First State Investments (UK)