Holding in Company

3i Smaller Quoted Co's Trust PLC
9 November 2000


The Disclosure of Interest in Shares (Amendment) Regulations 1993

With effect from 6 November 2000, funds managed on a discretionary basis by
Royal London Asset Management Ltd have a total interest in the following shares:

3i Smaller Quoted Cos           -   Ord GBP0.25                 -   5,785,000

Registered Holder               Beneficial Holder                No of shares

United Friendly Life Fund       United Friendly Ins Plc             1,808,000

U F Group Pension Scheme        United Friendly Gp Pens Scheme        278,000

Refuge Long Term Business 
Fund                            Refuge Assurance Plc                2,776,917
 
Refuge Assce Superannuation     The Trustees of the Refuge
Fund                            Assce Superannuation Fund             668,500

Royal London Growth & Income    Royal London Growth & Income
Trust plc                       Trust plc                             253,583