Holding(s) in Company

TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES

(1). Identity of the issuer or the underlying issuer of existing shares to
which voting rights are attached (ii):

            Merrill Lynch British Smaller Companies Trust plc

(2). Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights: ( x )

An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: ( )

An event changing the breakdown of voting rights: ( )

Other (please specify) :  ( ) 


(3). Full name of person(s) subject to the notification obligation (iii):

            British Empire Securities and General Trust plc

(4). Full name of shareholder(s) (if different from 3.) (iv):

            JPMorgan Chase Bank CREST BT01C

(5). Date of the transaction (and date on which the threshold is crossed or
reached if different) (v):

            11 January 2008

(6). Date on which issuer notified:

            29 January 2008

(7). Threshold(s) that is/are crossed or reached:

            4%

(8). Notified details:


A: Voting rights attached to shares

Class/type of shares (if possible using the ISIN code):  Ord 25p/GB0006436108

Situation previous to the triggering transaction(vi):
     Number of Shares:  1,944,773
     Number of Voting rights(viii):  1,944,773

Resulting situation after the triggering transaction(vii):
     Number of shares: 
          DIRECT:  2,117,166
     Number of voting rights (ix):
          Direct (x):  2,117,166
          Indirect (xi): 

% of voting rights:
     Direct:  4.36%
     Indirect: 

B. Financial Instruments

Resulting situation after the triggering transaction (xii):

Type of financial instrument: 

Expiration date (xiii): 

Exercise/Conversion Period/Date (xiv): 

Number of voting rights that may be acquired if the instrument is exercised/
converted:

% of voting rights:

Total (A + B):

Number of voting rights:  2,117,166

% of voting rights:  4.36%


(9). Chain of controlled undertakings through which the voting rights and/or
the financial instruments are effectively held, if applicable (xv):

           
Proxy Voting:

(10). Name of the proxy holder:

            N/A

(11). Number of voting rights proxy holder will cease to hold:

            N/A

(12). Date on which proxy holder will cease to hold voting rights:

            N/A


(13). Additional information:

            N/A

(14). Contact name:

            Ms C Driscoll
            For BlackRock Investment Management (UK) Limited
            Secretary

(15). Contact telephone number:

            020 7743 2427


29 January 2008