Dividend Declaration

Shires Smaller Companies PLC
05 October 2004

News Release

5 October 2004


                          SHIRES SMALLER COMPANIES PLC
                             THIRD INTERIM DIVIDEND

The Board of Shires Smaller Companies plc has declared a third interim dividend
of 3.0p per share in respect of the year to 31 December 2004 (third interim
2003: 3.0p) payable on 29 October 2004 to shareholders on the register at close
of business on 15 October 2004. The total of the three interim dividends
declared for the year to 31 December 2004 is 9.0p (2003: 9.0p).

Shires Smaller Companies plc is managed by Glasgow Investment Managers Limited.

End.

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