Holding in Company

3i Smaller Quoted Co's Trust PLC
12 April 2001


LETTER TO: COMPANY ANNOUNCEMENTS OFFICE

'The Listing Rules' - Chapter 9, Paragraph 9.11

In accordance with the above, we are writing to let you know that notification
of an interest in 3i Smaller Quoted Companies Trust plc under s.198 of the
Companies Act 1985 (as amended) was received in our London offices today.  A
copy of the notification letter is below.

LETTER FROM: 3i SMALLER QUOTED COMPANIES TRUST PLC


LETTER TO: 3i SMALLER TRUST

DISCLOSURE OF INTEREST IN SHARES - COMPANIES ACT 1985, PART VI

We hereby give intimation that, following a purchase of shares in the Company,
the notifiable interest held within the AEGON UK plc Group of Companies is
3.12%.

No of Ordinary Shares purchased:    100,000

Resultant Total:                  1,800,000

Held as follows:                    600,000  Royal Bank of Scotland Trust       
                                             Nominees Limited
                                  1,200,000  Chase Nominees Limited
 

For the purposes of the foregoing notification:-

(a)  'The AEGON UK plc Group of Companies' means Scottish Equitable plc,        
      Scottish Equitable (Managed Funds) Limited, AEGON Fund Management UK ltd,
      AEGON Investment Management UK ltd, AEGON Asset Management UK plc,        
      Scottish Equitable Trustees Limited, Guardian Assurance plc, Guardian     
      Linked Life Assurance Limited, Guardian Pensions Management Limited and   
      Guardian Unit Managers Limited all having a place of business at Edinburgh
      Park, Edinburgh EH12 9SE;

(b)   'the Act' shall mean the Companies Act 1985 and expressions used in this
       notification shall, unless the context otherwise requires, have the same
       meanings as are set out in or adopted for the purposes of the Act;

(c)   'the Company' shall mean the company to whom this notification is         
       addressed.


LETTER FROM: AEGON ASSET MANAGEMENT UK PLC