The brown coloured handbag was taken from a silver Volkswagen Polo while it was parked in the car park at Newington Sports and Leisure Centre in Shawhill Road sometime between 1.40 pm and 2.30 pm on Saturday.
The bag was recovered a short while later in bushes at the rear of the Caspian take-away in nearby Scott’s Street, but was missing a purse containing bank and credit cards and a small amount of money.
Constable Jim Tweedie, of Annan Police, said: “The bag appears to have been searched through and through and then dumped a short distance away from the sports centre.
“We are keen to hear from anyone who may have been in the area on Saturday to get in touch if they can help, through the usual 101 number.”