Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons
All relevant boxes should be completed in block capital letters.
| 1. | Name of the issuer 
 THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C. 
 
 
 
 
 
 
 | 2. | 
 THE NOTIFICATION RELATES TO A TRANSACTION NOTIFIED IN ACCORDANCE WITH DTR 3.1.2 R 
 
 
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| 3. | Name of person discharging managerial responsibilities/director 
 MS RACHEL LOMAX 
 
 
 | 4. | State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person 
 N/A 
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| 5. | Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a nonbeneficial interest 1 
 IN RESPECT OF DIRECTOR NAMED IN 3. 
 | 6. | Description of shares (including class), debentures or derivatives or financial instruments relating to shares 
 
 ORDINARY 25P SHARES 
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| 7. | Name of registered shareholders(s) and, if more than one, the number of shares held by each of them 
 NOT NOTIFIED 
 | 8. | State the nature of the transaction 
 
 
 PURCHASE 
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| 9. | Number of shares, debentures or financial instruments relating to shares acquired 
 
 43 SHARES 
 | 10. | Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage) 
 0.00003% 
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| 11. | Number of shares, debentures or financial instruments relating to shares disposed 
 
 N/A 
 | 12. | Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage) 
 N/A 
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| 13. | Price per share or value of transaction 
 233.0p 
 | 14. | Date and place of transaction 
 3 DECEMBER 2010 
 LONDON STOCK EXCHANGE 
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| 15. | Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) 
 16,817 ORDINARY SHARES (0.0127%) | 16. | Date issuer informed of transaction 
 
 
 6 DECEMBER 2010 
 
 
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If a person discharging managerial responsibilities has been granted options by the issuer
complete the following boxes
| 17. | Date of grant 
 
 
 
 | 18. | Period during which or date on which exercisable 
 
 
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| 19. | Total amount paid (if any) for grant of the option | 20. | Description of shares or debentures involved (class and number) 
 
 
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| 21. | Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise 
 
 
 | 22. | Total number of shares or debentures over which options held following notification 
 
 
 
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| 23. | Any additional information 
 
 
 
 | 24. | Name of contact and telephone number for queries 
 ERIN LONGMUIR, BAILLIE GIFFORD & CO, 0131 275 3199 
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| Name of authorised official of issuer responsible for making notification Baillie Gifford & Co Date of notification _7_December_ 2010________________________________________ 
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Notes: This form is intended for use by an issuer to make a RIS notification required by DR 3.3.
| (1) | An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24. | 
| (2) | An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24. | 
| (3) | An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24. | 
| (4) | An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24. |