Transaction in Own Shares

3i Smaller Quoted Co's Trust PLC
05 April 2004

3i Smaller Quoted Companies Trust plc

On 22 March 2004, 3i Smaller Quoted Companies Trust plc announced that it had
purchased 50,000 of its own Ordinary Shares of 25p each, for cancellation.  The
Company now confirms that these shares were cancelled on 5 April 2004.

The Company's issued share capital is now 53,588,523 Ordinary Shares of 25p
each.


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