Director Shareholding

Scottish American Investment Co PLC
25 October 2002



THE SCOTTISH AMERICAN INVESTMENT COMPANY PLC

Mr William Berry (a Director) notified the Company by letter dated 24th October
2002, that following the wind-up of Dr & Mrs John Berry's Marriage Trust -
Husband's Fund, he no longer had an interest (non-beneficial) in the holding of
10,400 shares with effect from 24th October 2002.

Following the wind-up of this Trust however 3,467 shares were then transferred
to Mr William Berry's 1997 Trust on 24th October 2002 of which he is a
non-beneficial trustee.


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