Holding(s) in Company

Scottish Oriental Smlr Co Tst PLC
04 January 2005



Notification of beneficial interests in Shares following an enquiry under
section 212 of the Companies Act 1985 (the  'Section 212 Enquiry')

1 Name of company:

The Scottish Oriental Smaller Companies Trust PLC ('Company')

2 Name of shareholder having an interest:

HSBC Global Custody Nominee (UK) Limited (the 'Nominee') has an interest in the
issued share capital of the Company.

3 Please state whether the response to the Section 212 Enquiry indicates that it
is in respect of the 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:

The Nominee has informed the Company following the Section 212 Enquiry that its
interest is not a beneficial interest  and that the names of the parties that,
so far as lies within the knowledge of the Nominee, have an interest in the 
shares of the Company are set out under 4. below.

4 Name of registered holder(s) and, if more than one holder, the number of
shares held by each of them:

Banque Generale Du Luxembourg SA - 1,545,000

5 Percentage of issued class:

6.06%

6 Class of security:

Ordinary shares of 25p each in the capital of the Company

7 Date of acquisition of holding:

17 December 2004

8 Date company informed of beneficial interest pursuant to the Section 212 
Enquiry:

24 December 2004

9 Total holding following this notification:

1,545,000 Ordinary shares of 25p each in the capital of the Company

10 Total percentage holding of issued class following this notification:

6.06%

11 Contact name for queries:

Adrian Smith of First State Investment Management (UK) Limited

12 Contact telephone number:

0131 473 2286

13 Name of company official responsible for making notification:

Adrian Smith

14 Date of notification:

04 January 2005



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