Dividend Declaration

Shires Smaller Companies PLC
06 July 2004


News Release


6 July 2004


Shires Smaller Companies plc


The Board of Shires Smaller Companies plc has declared a second interim dividend
of 3.0p per share in respect of the year to 31 December 2004 (second interim
2003: 3.0p) payable on 30 July 2004 to shareholders on the register at close of
business on 16 July 2004.


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


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