RNS Number:5185S
Aberdeen Asset Management PLC
26 November 2003

FORM SAR 5

Lodge with Company Announcements Office and the Panel. A copy must also be sent
to the company the shares of which are being sold.

Date of disclosure....26/11/03.......

DISCLOSURE UNDER NOTE 3 OF RULE 5 OF THE RULES GOVERNING
SUBSTANTIAL ACQUISITIONS OF SHARES ("SARs")


Date of sale....25/11/03.....................................................

Sale of....The American Investment Trust Limited..........(name of company)

(1) Class of voting                   Number of                  If rights over shares
    shares                            shares/rights              sold, as opposed
    (eg ordinary shares)             over shares sold            to the shares            
                                                                 themselves, specify
                                                                 nature of rights                   

    Ordinary Income 1p                7,750,000     shares
                                      N/A     rights


(2) Resultant total               Resultant total holding of rights       Total percentage
holding of voting shares          over shares(and % of total voting
(and % of rights over             shares in issue)
shares in issue)

16,821,352  (12.46%)              (%)                                      (12.46%)



(3) Party making disclosure...Aberdeen Asset Management PLC................

(4) (a) Name of person selling shares or rights over shares ..............
and, if different, beneficial owner..Discretionary funds under the.
Management of Aberdeen Asset Management PLC.
(b) Names of any other persons acting by
agreement or understanding (see SAR 5)............................


Signed, for and on behalf of the party named in (3) above...................

(Also print name of signatory.......Aileen Strachan..........................

Telephone and extension number.. 01224 631999.Ext 5291....


or full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section, Tel. No: 020 7638 0129.

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