Holding in Company

Scottish Oriental Smlr Co Tst PLC 20 March 2001 Notification of Major Interests in Shares 1 Name of company: The Scottish Oriental Smaller Companies Trust plc 2 Name of shareholder having a major interest: Philip J Milton & Company Plc 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: 4 Name of registered holder(s) and, if more than one holder, the number of shares held by each of them: Notification follows regular portfolio adjustments of shares under the discretionary control of Philip J Milton & Company Plc on behalf of its many discretionary clients. 5 Number of shares/amount of stock acquired: 6 Percentage of issued class: 7 Number of shares/amount of stock disposed: 8 Percentage of issued class: 9 Class of security: Ordinary shares of 25p 10 Date of transaction: 12th March 2001 11 Date company informed: 19th March 2001 12 Total holding following this notification: 1,275,322 13 Total percentage holding of issued class following this notification: 5.01% 14 Contact name for queries: Shona Darling of Colonial First State Investments (UK) 15 Contact telephone number: 0131 473 2200 16 Name of company official responsible for making notification: 17 Date of notification:
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