Director Shareholding

Perpetual UK Smaller Co's IT PLC
27 April 2001



1)    Name of the Company

      Perpetual UK Smaller Companies Investment Trust plc


2)    Name of Director

      A L M O'Hare


3)    Please state whether notification indicates it in respect of holding the
      director named in 2 above or holding of that person's spouse or children
      under the age of 18 or in respect of a non-beneficial interest:

      Director's spouse


4)    Name of registered holder(s) and, if more than one holder, the number of
      shares held by each of them (if notified):

      RBSTB (Nominees) Limited


5)    Please state whether notification relates to a person(s) connected with
      the director named in 2 above and identify the connected person(s):

      Mrs L A O'Hare


6)    Please state the nature of the transaction. For PEP transactions please
      indicate whether general / single coPEP and if discretionary/non
      discretionary:

      Savings and Investment Plan


6)    Number of shares / amount of stock acquired:

      43


7)    Number of shares/amount of stock disposed:

      Not applicable


8)    Percentage of issued class:

      0.0%


9)    Number of shares/amount of stock disposed:

      Not applicable


10)   Percentage of issued class:

      Not applicable


11)   Class of security

      Ordinary


12)   Price per share:

      459p


13)   Date of transaction:

      18th April 2001


14)   Date company informed:

      26th April 2001


15)   Total holding following this notification:

      14,726


16)   Total percentage holding of issued class following this notification:

      0.1%


17)   Contact name for queries:

      Vanessa Boyd


18)   Contact telephone number:

      01491 417314


19)   Name of company official responsible for making the announcement

      Ian White