Dividend Declaration

Shires Smaller Companies PLC
17 October 2002




News Release


17 October 2002





Shires Smaller Companies plc
Third Interim Dividend


The Board of Shires Smaller Companies plc has declared a third interim dividend
of 3.0p per share in respect of the year to 31 December 2002 (third interim
2001: 3.0p) payable on 31 December 2002 to shareholders on the register at close
of business on 6 December 2002.  The total of the three interim dividends
declared for the year to 31 December 2002 is 9.0p (2001: 9.0p).



Shires Smaller Companies plc is managed by Glasgow Investment Managers Limited.





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