Substantial Shareholdings

Shires Smaller Companies PLC
27 November 2007

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company:  Shires Smaller Companies

2)   Name of shareholder having a major interest: Prudential plc


3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18:  as above

4)   Name of the registered holder(s) and, if more than one holder, the
     number of voting rights held by each of them

      PRUDENTIAL HSBC GIS NOM (UK)PAC A/C         1,500,000


5)   Number of voting rights of stock acquired:  Disclosure made under
Transparency Directive

6)   Percentage of issued class:

7)   Number of voting rights of stock disposed

8)   Percentage of total voting rights

9)   Class of security: Ordinary 50p shares

10)  Date of transaction:  22 November 2007

11)  Date company informed:  26 November 2007

12)  Total holding following this notification:     1,500,000

13)  Total percentage holding of voting rights following this notification:

6.78%

14)  Any additional information

15)  Name of contact and telephone number for queries:  Sonia Paterson - 0141
572 2700

16)  Name and signature of authorised company official responsible for
     making this notification: Graeme McDonald



     Date of notification:  27 November 2007





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