Holding(s) in Company

F&C U.S. Smaller Companies PLC
22 April 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company
F&C US SMALLER COMPANIES PLC

2. Name of shareholder having a major interest
F&C MANAGEMENT LIMITED (INCLUDING FOREIGN & COLONIAL INVESTMENT TRUST 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 IN 2

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

5. Number of shares / amount of stock acquired
NOT SPECIFIED

6. Percentage of issued class
NOT SPECIFIED

7. Number of shares / amount of stock disposed
NOT SPECIFIED

8. Percentage of issued class
NOT SPECIFIED

9. Class of security
ORDINARY SHARES OF 25P

10. Date of transaction
NOT SPECIFIED

 11. Date company informed
17 April 2003

12. Total holding following this notification
3,160,296

13. Total percentage holding of issued class following this notification
11.86%

14. Any additional information
INCLUDES FCIT HOLDING OF 2,968,169 SHARES REPRESENTING 11.1%

15. Name of contact and telephone number for queries
MRS R HOSTLER 0207 825 2318

16. Name and signature of authorised company official responsible for making
this notification
AS ABOVE

Date of notification
22 April 2003

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for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
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