Dividend Declaration

Scottish American Investment Co PLC
15 October 2003



THE SCOTTISH AMERICAN INVESTMENT COMPANY PLC

The Directors of The Scottish American Investment Company PLC (SAINTS) have
today declared a third quarterly dividend in respect of the year to 31st
December 2003 of 1.41p (2002: 1.40p) per Ordinary share payable on 7th January
2003 to shareholders registered on 5th December 2003.







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