Listing Rule 15.4.11(1)

North Atlantic Smlr Co Inv Tst PLC
03 May 2006



  North Atlantic Smaller Companies Investment Trust plc (the 'Company')


In compliance with paragraph 15.4.11 (1) of the Listing Rules of the UK Listing
Authority, we hereby give notice that, as at 30 April 2006, the following is a
list of the Company's ten largest investments which includes those with
a value greater than 5% of the Company's gross assets:

     Name of Investee Company             Class of share

 1   W-H Energy                           Common
 2   Nationwide Accident Repair           Ordinary
 3   Sterling Construction                Common
 4   American Opportunity Trust           Ordinary
 5   Whatman                              Ordinary
 6   US Treasury Bill                     Treasury Stock
 7   Georgica                             Ordinary
 8   UK Treasury Bill                     Treasury Stock
 9   DM Technical                         Loan notes
 10  Worldport Communications             Common



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