Holding(s) in Company

3i Smaller Quoted Co's Trust PLC
20 February 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

3i Smaller Quoted Companies Trust plc

2. Name of shareholder having a major interest

The Royal Bank of Scotland 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

as above

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

Registered holder                                             Number of shares

BNY GIL Client A/C Nominees Ltd                                      2,277,739
NatWest FIS Nominees Ltd SX Account                                      1,334
National Westminster Bank Plc                                           41,000
BNY (OCS) Nominees Ltd                                               2,382,500
Total interest of The Royal Bank of Scotland plc                     4,702,573

5. Number of shares / amount of stock acquired

not known

6. Percentage of issued class

not known

7. Number of shares / amount of stock disposed

not known

8. Percentage of issued class

not known

9. Class of security

Ordinary shares of 25p each

10. Date of transaction

not known

11. Date company informed

20 February 2003

12. Total holding following this notification

4,702,573

13. Total percentage holding of issued class following this notification

8.25%

14. Any additional information

The Royal Bank of Scotland Group state that:

"The Royal Bank of Scotland Group plc continue to have an interest in 4,802,430
shares, of this figure, National Westminster Bank Plc are interested in
4,681,739 shares and RBS Pension Trustee Ltd are interested in 4,640,739.  None
of these companies have come under a further obligation to make a disclosure as
defined under Section 199 of the (Companies) Act (1985)".

15. Name of contact and telephone number for queries

Pandora Sharp - 020 7975 3228

16. Name and signature of authorised company official responsible for making
this notification

For and on behalf of 3i plc, Secretaries to 3i Smaller Quoted Companies Trust 
plc

Date of notification

20 February 2003



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