Holding(s) in Company

3i Smaller Quoted Co's Trust PLC
28 November 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
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
as 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                                                  No. of shares
BNY GIL Client A/C Nominees Ltd                                        1,571,539
NatWest FIS Nominees Ltd SX Account                                        1,334
BNY (OCS) Nominees Ltd                                                 2,363,000
Total interest of The Royal Bank of Scotland Group plc                 3,935,873

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
28 November 2003

12. Total holding following this notification
3,935,873

13. Total percentage holding of issued class following this notification
7.03%

14. Any additional information
a.   The Royal Bank of Scotland plc has an interest in all the shares detailed 
     in 4 above.
b.   RBS Pension Trustee Ltd and National Westminster Bank plc have an interest 
     in 3,934,539 of the shares detailed in 4 above, to the extent mentioned 
     below.

     Registered holder                                              No of shares
     BNY GIL Client A/C Nominees Ltd                                   1,571,539
     BNY (OCS) Nominees Ltd                                            2,363,000
c.   None of the shares detailed in 4 above relate to interests as mentioned in 
     section 208 (5) of the Companies Act 1985.


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
28 November 2003



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