Holding in Company

Perpetual UK Smaller Co's IT PLC
19 October 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


     Exeter Asset Management Limited on behalf of:


     Exeter Selective Assets Investment Trust    135,000
     Exeter Smaller Companies Income Fund        100,000
     Exeter Managed Growth Fund                  200,000



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:

     Notification is in respect of the shareholder named in 2 above



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


     N/A



5.   Number of shares/amount of stock acquired:


     70,000



6.   Percentage of issued class:


     0.50%



7.   Number of shares/amount of stock disposed:


     N/A



8.   Percentage of issued class:

     N/A





9.   Class of security:

     Ordinary shares



10.  Date of Transaction:

     18 October 2001



11.  Date company informed:

     19 October 2001



12.  Total holding following this notification:

     435,000



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

     3.11%



14.  Contact name for queries:

     Jonathan McGuire



15.  Contact telephone number:


     0207 454 3185



16.  Name of company official responsible for making notification:


     Jonathan McGuire
     for INVESCO Asset Management Limited, Secretaries



17.  Date of notification:


     19 October 2001





Additional Information