Holding(s) in Company

Scottish Oriental Smlr Co Tst PLC
14 January 2004



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:

The Scottish American Investment 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:

BNY (OCS) Nominees Limited

5 Number of shares/amount of stock acquired:

6 Percentage of issued class:

7 Number of shares/amount of stock disposed:

4,400,000

8 Percentage of issued class:

17.3%

9 Class of security:

Ordinary shares of 25p

10 Date of transaction:

5 January 2004

11 Date company informed:

14 January 2004

12 Total holding following this notification:

Nil

13 Total percentage holding of issued class following this notification:

Nil

14 Contact name for queries:

Shona Darling of First State Investment Management (UK) Limited

15 Contact telephone number:

0131 473 2228

16 Name of company official responsible for making notification:

17 Date of notification:

14 January 2004






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