Top 10 Holdings

Shires Smaller Companies PLC
03 April 2007


3 April 2007


SHIRES SMALLER COMPANIES PLC

In accordance with UKLA Listing Rule 21.20 (1) (ii), Shires Smaller Companies
PLC announces that at 31 March 2007 the ten largest investments held were as
follows:

Company                                              £        % of Total
                                                                Assets

Ecclesiastical Insurance Pref Shares               5,480,000      6.4
General Accident Pref Shares                       3,631,250      4.2
Brit Insurance Holdings                            3,222,500      3.8
Chesnara                                           2,771,250      3.2
Fisher (James)                                     2,410,000      2.8
Titan Europe                                       2,334,534      2.7
XP Power                                           2,270,293      2.6
Highway Insurance Holdings                         2,122,500      2.5
Menzies (J)                                        2,120,000      2.5
Carter & Carter                                    2,119,250      2.5

Shires Smaller Companies plc is managed by Glasgow Investment Managers Limited



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