Issue of Debt

Scottish American Investment Co PLC
6 December 2000



6 December, 2000


       The Scottish American Investment Company P.L.C. (the 'Company')
       Placing of a further tranche of 8 per cent. Debenture Stock 2022


Further to today's earlier press release:


--- the interest rate on the New Stock is 8 per cent. per annum, payable
    semi-annually


--- the issue price of the New Stock is £119.016 per £100 nominal of Stock


--- at the issue price, the gross redemption yield on the New Stock is 6.355
    per cent. semi annual.



For further information, please contact:

Teddy Tulloch/Marcus Brooks
The Scottish American Investment Company                    0131 473 2200


Duncan Hunter / Francis Burkitt / Donald Fleming
Cazenove & Co.                                              020 7588 2828


In connection with the issue of the New Stock, Cazenove & Co. may over-allot
or effect transactions which stabilise or maintain the market price of the New
Stock and Existing Stock on the London Stock Exchange at a level which might
not otherwise prevail on that exchange. Such stabilisation, if commenced, may
be discontinued at any time.