Net Asset Value(s)

Scottish American Investment Co PLC
03 January 2006


                    The Scottish American Investment Company P.L.C.       30 December 2005

                    Net Asset Value at BID with Debentures at Book:                253.62p
           Net Asset Value at BID with Debentures at Market Value*:                240.79p

                    Net Asset Value at MID with Debentures at Book:

                                                                                 254.33p
           Net Asset Value at MID with Debentures at Market Value*:                241.50p


*As of 1 January 2006 all Net Asset Values will be calculated using closing bid
market prices.



The above figures include the annual revaluation of the company's direct
property holdings,

which increased in value from £33,972,000 to £38,700,000.


                      This information is provided by RNS
            The company news service from the London Stock Exchange