Holding(s) in Company

3i Smaller Quoted Co's Trust PLC
02 May 2003

                                  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


AEGON UK plc Group of Companies



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


Chase Nominees Limited                                      1,834,947



5. Number of shares / amount of stock acquired


1,508,586



6. Percentage of issued class


2.70%



7. Number of shares / amount of stock disposed


Not applicable



8. Percentage of issued class


Not applicable



9. Class of security


Ordinary shares of 25p each



10. Date of transaction


Not known






11. Date company informed


2 May 2003



12. Total holding following this notification


1,834,947



13. Total percentage holding of issued class following this notification


3.28%



14. Any additional information


"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 EG12 9SE.



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


2 May 2003



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