The Board of the Scottish American Investment Company P.L.C. ('SAINTS') announces that James Dow and Toby Ross, previously Deputy Managers, have become Joint Managers of SAINTS.

The Board wishes to extend its thanks to Dominic Neary, the former Manager of SAINTS, for his considerable contribution to the Company during his tenure as Manager.

Baillie Gifford & Co Limited

Company Secretaries

For further information please contact:

Roland Cross, Director, Four Broadgate

Tel: 020 3697 4200 or 07831 401309

James Budden, Baillie Gifford & Co  

Tel: 0131 275 2816