Holding in Company

3i Smaller Quoted Co's Trust PLC
1 August 2001



LETTER TO COMPANY ANNOUNCEMENTS OFFICE

'The Listing Rules' - Chapter 9, Paragraph 9.11

In accordance with the above, we are writing to let you know that notification
of an interest in 3i Smaller Quoted Companies Trust plc under s.198 of the
Companies Act 1985 (as amended) was received in our London offices earlier
today.  A copy of the notification letter is below.

LETTER FROM 3i SMALLER QUOTED COMPANIES TRUST PLC


LETTER TO 3i SMALLER QUOTED COMPANIES TRUST PLC

Companies Act 1985 Section 198 disclosure notice

In compliance with Part VI of the above mentioned Act, I write to inform of
Royal London Asset Management's new combined shareholding in 3i Smaller Quoted
Companies Trust ordinary 25p shares, issued share capital 57,718,523.

Following the transfer of 75,000 shares from the Royal London Long Term Fund to
Scottish Life Assurance Company at GBP1.805 (being the close of business
mid-price) on 27th July 2001, the Royal London Long Term Fund now holds
3,462,864 ord. 25p shares.  This takes the percentage holding from 6.13% to
5.99%.

Since the takeover of Scottish Life Assurance Company by Royal London it is now
our policy to report only on the affected fund.


Reg'd Shareholder   Beneficial owner               Pre transfer  Current    %
                    
Chase Nominees Ltd  Royal London Long Term Fund     3,537,864   3,462,864  5.99
Chase Nominees Ltd  Scottish Life Assurance Company         0      75,000  0.14

Totals                                                          3,537,864  6.13


FROM ROYAL LONDON ASSET MANAGEMENT