Holding(s) in Company

3i Smaller Quoted Co's Trust PLC
31 July 2002



                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

3i Smaller Quoted Companies Trust plc

2. Name of shareholder having a major interest

The Royal Bank of Scotland Group plc

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

In respect of 2 above

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them

Registered Holder                                                           Number of Shares                  Percentage

BNY GIL Client A/C Nominees Ltd                                                    2,170,339
BNY (OCS) Nominees Ltd                                                             2,363,000
Total interest of RBS Pension Trustee Ltd                                          4,533,339                        7.88

National Westminster Bank Plc                                                         41,000
Total interest of National Westminster Bank Plc                                    4,574,339                        7.95

State Street Nominees Ltd                                                             99,857
Nortrust Nominees Ltd                                                                 19,500
Unknown                                                                                1,334
Total interest of The Royal Bank of Scotland Group plc                             4,695,030                        8.16

5. Number of shares / amount of stock acquired

not known

6. Percentage of issued class

not known

7. Number of shares / amount of stock disposed

not known

8. Percentage of issued class

not known

9. Class of security

Ordinary shares of 25p each

10. Date of transaction

not known

 11. Date company informed

31 July 2002

12. Total holding following this notification

4,695,030

13. Total percentage holding of issued class following this notification

8.16%

14. Any additional information

The interests of National Westminster Bank Plc and RBS Pension Trustee Ltd are as stated in 4 above. This
notification is made following the merger of the RBS and NatWest Pension Schemes (not a market
transaction).

15. Name of contact and telephone number for queries

Pandora Sharp - 020 7975 3228

16. Name and signature of authorised company official responsible for making
this notification
For and on behalf of 3i plc, Secretaries to 3i Smaller Quoted Companies Trust plc

Date of notification

31 July 2002




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