Dividend Declaration

Shires Smaller Companies PLC
05 January 2006


News Release

5 January 2006

SHIRES SMALLER COMPANIES PLC

The Board of Shires Smaller Companies plc has declared a fourth interim dividend
of 4.75p per share in respect of the year to 31 December 2005 payable on 31
January 2006 to shareholders on the register at close of business on 13 January
2006. The total of the four interim dividends declared for the year to 31
December 2005 is 13.75p.

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




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