Dividend Declaration

Scottish American Investment Co PLC
11 April 2001

THE SCOTTISH AMERICAN INVESTMENT COMPANY PLC

The Directors of The Scottish American Investment Company PLC (SAINTS) have
today declared a first quarterly dividend in respect of the year to 31st
December 2001 of 1.39p per Ordinary share payable on 2nd July 2001 to
shareholders registered on 25th May 2001.