Director Shareholding

North Atlantic Smlr Co Inv Tst PLC
10 June 2005

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1)  Name of company

NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC

2)  Name of director

C H B MILLS

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 or in 
    respect of a non-beneficial interest

AS 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 (if notified)



5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)



6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary



7)  Number of shares/amount of
    stock acquired



8)  Percentage of issued class



9)  Number of shares/amount
    of stock disposed



10) Percentage of issued class



11) Class of security



12) Price per share



13) Date of transaction



14) Date company informed



15) Total holding following this notification



16) Total percentage holding of issued class following this notification



If a director has been granted options by the company please complete the
following boxes

17) Date of grant

9 June 2005

18) Period during which or date on which exercisable

9 June 2008 to 9 June 2015

19) Total amount paid (if any) for grant of the option

n/a

20) Description of shares or debentures involved: class, number

300,000 ordinary shares of 5p each

21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise

875.6p

22) Total number of shares or debentures over which options held
    following this notification

100,000 1994 Executive Share option Scheme
800,000 2002 Executive Share option Scheme

23) Any additional information



24) Name of contact and telephone number for queries

Rachel Butlin 020 7747 5680

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

For and on behalf of J O Hambro Capital Management Limited as Company Secretary
of North Atlantic Smaller Companies Investment Trust plc

Rachel Butlin Company Secretary

    Date of Notification....10 June 2005 .............



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