Holding in Company

Fleming Smaller Co's Inv. Trust PLC
28 November 2001

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES

1)   Name of company

THE FLEMING SMALLER COMPANIES INVESTMENT TRUST plc

2)   Name of shareholder having a major interest

ALLIANZ  (UK) 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 or children under the age of 18

IN RESPECT OF SHAREHOLDER IN 2 ABOVE

4)   Name of the 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

100,000

6)   Percentage of issued class

NOT STATED

7)   Number of shares/amount of stock disposed

N/A

8)   Percentage of issued class

N/A

9)   Class of security

ORDINARY 25p SHARES


10)  Date of transaction

23rd NOVEMBER 2001

11)  Date company informed

28th   NOVEMBER  2001


12)  Total holding following this notification

1,159,515

13)  Total percentage holding of issued class following this notification

4.35 %



14)  Any additional information




15)  Name of contact and telephone number for queries

FRASER EASTON, 020 7742  3425

16)  Name of authorised company official responsible for making this
notification

HELEN WALKER, 020 7742 3453



17) Date of notification



28th NOVEMBER 2001