Portfolio Update

Scottish American Investment Co PLC
03 July 2007

                 THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C.

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



30 June 2007


No      Holding                                                       % of Total
                                                                        Assets

1.      Royal Bank of Scotland                                           3.9%
2.      Petrobras                                                        3.8%
3.      Brazil CPI Linked 15/05/2045                                     3.4%
4.      Cambium Global Timberland                                        3.3%
5.      Barclays                                                         3.2%
6.      Glaxosmithkline                                                  3.2%
7.      HBOS                                                             2.2%
8.      British American Tobacco                                         1.8%
9.      Diageo                                                           1.8%
10.     Aviva                                                            1.8%





                                                           Baillie Gifford & Co.
                                                             Company Secretaries
                                                                     3 July 2007


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

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