Holding(s) in Company

3i Smaller Quoted Co's Trust PLC
15 January 2004

                                  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 (OCS) Nominees Ltd A/C RBP                  2,514,200

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
14 January 2004

12. Total holding following this notification
2,514,200

13. Total percentage holding of issued class following this notification
4.66%

14. Any additional information
a.   The Royal Bank of Scotland plc, National Westminster Bank plc and RBS Pension Trustee
     Ltd also have an interest in all the shares detailed in 4 above.
b.   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
15 January 2004






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