Holding in Company

Montanaro UK Smlr Cos Inv Tst PLC
16 October 2001

MONTANARO UK SMALLER COMPANIES INVESTMENT TRUST PLC



The Company has today been informed that following a stock loan of 350,000
Ordinary shares on 15 October 2001, the Co-operative Insurance Society Limited
now has an interest in 1,400,000 Ordinary shares, representing 3.75% of the
issued capital.



15.10.01