Top 10 Holdings

Shires Smaller Companies PLC
04 July 2006


4 July 2006



SHIRES SMALLER COMPANIES PLC



In accordance with UKLA Listing Rule 21.20 (1) (ii), Shires Smaller Companies
PLC announces that at 30 June 2006 the ten largest investments held were as
follows:

Company                                              £        % of Total
                                                                Assets

Ecclesiastical Ins Off 8.625% Pref Shares          2,995,750      3.4
Fisher (James)                                     2,614,500      3.0
McCarthy & Stone Ord                               2,524,500      2.9
Titan Europe Ord                                   2,369,791      2.7
European Motor Holdings Ord                        2,361,188      2.7
Highway Insurance Holdings Ord                     2,227,500      2.5
Co-Operative Bank 9.25% Non-Cum Pref Shares        2,169,563      2.5
Menzies (J) Ord                                    1,847,000      2.1
Brit Insurance Holdings                            1,754,998      2.0
ATH Resources Ord                                  1,706,811      1.9



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