Holding in Company

Perpetual UK Smaller Co's IT PLC
8 August 2001

Headline:  Holding in Company


               Schedule 10 - Notification of Major Interests in Shares


1.         Name of Company

           Perpetual UK Smaller Companies Investment Trust plc

2.         Name of shareholder having a major interest

           Allianz (UK) Limited (holding company). Shares held by its           
           subsidiaries Cornhill Insurance PLC and Merchant Investors Assurance 
           Company Limited

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 of children under the age of 18:

           Beneficial holding

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

           The Bank of New York (Nominees) Limited

5.         Number of shares/amount of stock acquired:

           N/A

6.         Percentage of issued class:

           N/A

7.         Number of shares/amount of stock disposed:

           100,000 by Merchant Investors Assurance Company Limited

8.         Percentage of issued class:
  
           0.71%

9.         Class of security:

           Ordinary shares

10.        Date of Transaction:

           6 August 2001

11.        Date company informed:

           8 August 2001

12.        Total holding following this notification:

           Allianz (UK) Limited - 941,750.  Consisting of Cornhill Insurance PLC
           (150,000) and Merchant Investors Assurance Company Limited (791,750)

13.        Total percentage holding of issued class following this notification:

           Allianz (UK) Limited - 6.73%.  Consisting of Cornhill Insurance PLC  
           (1.07%) and Merchant Investors Assurance Company Limited (5.65%)

14.        Contact name for queries:

           Alex Campbell

15.        Contact telephone number:

           0207 454 3644

16.        Name of company official responsible for making notification:

           Alex Campbell

           for INVESCO Asset Management Limited, Secretaries

17.        Date of notification:

           8 August 2001


Additional Information