Holding in Company

Ivory & Sime UK Smlr.Co's Trust PLC
27 July 2000



                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

IVORY & SIME UK SMALLER COMPANIES TRUST PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

CO-OPERATIVE INSURANCE SOCIETY 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

AS 2


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

AS 2

5)   Number of shares/amount of stock acquired.

150,000


6)   ( 0.71 %) of issued Class

7)   Number of shares/amount of stock disposed

238,760


8)   ( 1.13 %) of issued Class


9)   Class of security

ORDINARY SHARES


10)  Date of transaction

26/7/00


11)  Date company informed

26/7/00


12)  Total holding following this notification

759,141
               
              
13)  Total percentage holding of issued class following this notification

3.60%


14)  Any additional information

DISCLOSURE AS A CONSEQUENCE OF STOCK LOAN RETURN & NEW STOCK LOAN


15)  Name of contact and telephone number for queries

GARY FRASER   0131 465 1000


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

     Date of Notification ... 27 JULY 2000 .....