Holding in Company

Perpetual UK Smaller Co's IT PLC
9 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:

    390,000 by Merchant Investors Assurance Company Limited

8.  Percentage of issued class:
    
    2.79%

9.  Class of security:

    Ordinary shares

10. Date of Transaction:

    7 August 2001

11. Date company informed:

    8 August 2001

12. Total holding following this notification:

Allianz (UK) Limited - 551,750.  Consisting of Cornhill Insurance PLC
(150,000) and Merchant Investors Assurance Company Limited (401,750)

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

Allianz (UK) Limited - 3.94%.  Consisting of Cornhill Insurance PLC (1.07%)
and Merchant Investors Assurance Company Limited (2.87%)

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:

      9 August 2001

Additional Information