Dividend Declaration

Scottish American Investment Co PLC
19 May 2005

           The Scottish American Investment Company P.L.C. ('SAINTS')

                        First interim dividend for 2005.


The Board of SAINTS announces that it is declaring a first interim dividend of
1.59p (up 8.2% on the corresponding dividend last year) per ordinary share in
respect of the year to 31 December 2005, payable on 1 July 2005 to shareholders
on the register at the close of business on 10 June 2005. The ex-dividend date
is 8 June 2005.







                                                            Baillie Gifford & Co
                                                             Company Secretaries
                                                                     19 May 2005







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