Holding in Company

Edinburgh Small Companies Trust PLC
28 December 2001

                                 SCHEDULE 10
                  NOTIFICATION OF MAJOR INTERESTS IN SHARES

 1. Name of company:

Edinburgh Small Companies Trust plc

2) Name of shareholder having a major interest
      BNP Paribas Arbitrage SNC

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

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them
      BNP Paribas Arbitrage SNC -0

5) Number of shares/amount of stock acquired
      0

6) Percentage of issued class
      n/a

7) Number of shares/amount of stock disposed,
      2,756,217



8) Percentage of issued class
      4.08%


9) Class of security
      Ordinary 25p shares

10) Date of transaction
      10 September 2001

11) Date company informed
      28.12.01

12) Total holding following this notification
      0


13) Total percentage holding of issued class following this notification
      n/a

14) Any additional information
      None

15) Name of contact and telephone number for queries

16) Name and signature of authorised company official responsible for
making this notification - Amanda Fraser 0131 313 6472 Date of notification
28.12.01