Repurchase of ordinary shares

Scottish American Investment Co PLC
14 January 2002


The Scottish American Investment Company plc

Repurchase of ordinary shares for cancellation

The Scottish American Investment Company plc announces that on 14 January
2002 it purchased for cancellation 450,000 ordinary shares in the market at a
price of 189p per ordinary share. There remain 146,904,943 ordinary shares in
issue.

END