Correction : Director/PDMR Shareholding

Please be advised that this replaces the announcement made earlier today at 16:
32hrs. The earlier announcement contained an error in respect of the total
holding. All other information remains the same.

                                  SCHEDULE 11                                  
                                                                               
         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS          

1) Name of company

Merrill Lynch British Smaller Companies Trust plc

2) Name of director

Nicholas Rodney Lowther Fry

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

Above named director

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

Barclays Nominees

5) Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s)

N/A

6) Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/non
discretionary of ordinary shares

Purchase of ordinary shares

7) Number of shares/amount of stock acquired

5,000

8) Percentage of issued class

0.01%

9) Number of shares/amount of stock disposed

N/A

10) Percentage of issued class

N/A

11) Class of security

Ordinary shares of 25p each

12) Price per share

299.00p

13) Date of transaction

23 January 2008

14) Date company informed

24 January 2008

15) Total holding following this notification

30,000 Beneficial

16) Total percentage holding of issued class following this notification

0.06%

17) Any additional information

None

18) Contact name for queries

Mrs A B Powley

19) Contact telephone number

020 7743 5610

20) Name of authorised company official responsible for making notification

Mrs A B Powley
BlackRock Investment Management (UK) Limited
Secretary

25 January 2008