Holding(s) in Company

North Atlantic Smlr Co Inv Tst PLC
01 September 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC

2)   Name of shareholder having a major interest

EXETER ASSET MANAGEMENT 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 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


EXETER SMALLER COMPANIES INCOME FUND - 125,000 SHARES
EXETER SELECTIVE ASSETS INVESTMENT TRUST - 100,000 SHARES


5)   Number of shares/amount of stock acquired

N/A


6)   Percentage of issued class

N/A

7)   Number of shares/amount of stock disposed

897,500 SHARES

8)   Percentage of issued class


7.32%

9)   Class of security

ORDINARY SHARES OF 5P EACH

10)  Date of transaction

31 AUGUST 2003

11)  Date company informed

1 SEPTEMBER 2003



12)  Total holding following this notification

225,000 SHARES



13)  Total percentage holding of issued class following this notification

1.84%

14)  Any additional information



15)  Name of contact and telephone number for queries

BONITA DRYDEN - 020 7747 5681

16)  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


     Date of notification ..1 SEPTEMBER.2003.....





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