AGM Statement

Scottish American Investment Co PLC
30 March 2006

                THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C.

                     Annual General Meeting, 30 March 2006

At the AGM held on 30 March 2006 all resolutions were passed, including those
detailed below:

•                                Shareholders approved a special resolution
renewing the Company's authority to make market purchases of up to 14.99% of the
Company's issued share capital, being 19,859,643 ordinary shares of 25p. The
Company's new authority now permits it to hold shares bought back 'in treasury'.
Such treasury shares may subsequently be either sold for cash or cancelled. This
authority will expire at the conclusion of the AGM to be held in 2007 or on 29
September 2007, whichever is earlier, unless previously varied, revoked or
renewed.

•                                Shareholders approved a special resolution
renewing the Company's authority to allot authorised but unissued shares on a
non-pre-emptive basis up to £3,312,148.50, being 10% of the total issued share
capital of the Company. This authority now permits the sale of shares out of
treasury. The Directors do not intend to use these powers to re-issue shares at
a discount to net asset value. This authority will expire at the conclusion of
the AGM to be held in 2007 or on 29 September 2007, whichever is earlier.

The full text of all the resolutions can be found in the Notice of Annual
General Meeting contained in the Annual Report and Accounts, copies of which are
available for viewing at the UK Listing Authority's Document Viewing Facility,
which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS

Tel. no. (0)20 7676 1000


                                                            Baillie Gifford & Co
                                                        Managers and Secretaries
                                                                   30 March 2006

                     This information is provided by RNS
            The company news service from the London Stock Exchange