Portfolio Update

Scottish American Investment Co PLC
03 April 2007

                 THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C.

   Statement of Top Ten Investments and all Holdings Over 5% of Total Assets



31 March 2007


No      Holding                                                                  % of Total
                                                                                   Assets

1.      Royal Bank of Scotland                                                      4.1%
2.      Glaxosmithkline                                                             3.4%
3.      Barclays                                                                    3.3%
4.      Cambium Global Timberland                                                   3.3%
5.      Petrobras                                                                   3.2%
6.      Brazil CPI Linked 2045                                                      2.9%
7.      HBOS                                                                        2.4%
8.      Rio Tinto                                                                   2.0%
9.      Diageo                                                                      1.8%
10.     BHP Billiton  6% 31/07/07                                                   1.6%





                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                    3 April 2007


                      This information is provided by RNS
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