Holding in Company

Perpetual UK Smaller Co's IT PLC
22 June 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:



            See 'additional information' below



8.            Percentage of issued class:



            See 'additional information' below



9.         Class of security:



            Ordinary shares



10.       Date of Transaction:



            See 'additional information' below



11.       Date company informed:



            21st June 2001



12.       Total holding following this notification:



Allianz (UK) Limited - 1,091,750. Consisting of Cornhill Insurance PLC
(150,000) and Merchant Investors Assurance Company Limited (941,750)



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



Allianz (UK) Limited - 7.80%. Consisting of Cornhill Insurance PLC (1.07%) and
Merchant Investors Assurance Company Limited (6.73%)



14.            Contact name for queries:



            Alex Campbell



15.            Contact telephone number:



            0207 454 3644



16.       Name of company official responsible for making notification:



            Jonathan McGuire

            for INVESCO Asset Management Limited, Secretaries



17.       Date of notification:

            22nd June 2001


Additional Information


This notification follows two disposals by Mechant Investors Assurance Company
Limited on consecutive days, as follows:


     19th June 2001 - Disposal of 100,000 shares (0.71% of issued class)

     20th June 2001 - Disposal of 100,000 shares (0.71% of issued class)