Dividend Declaration

Shires Smaller Companies PLC
15 August 2002



Shires Smaller Companies plc

Second Interim Dividend


As indicated at the February Board Meeting, the Board agreed that last year's
dividend of 13.75p should be maintained.  Therefore, subject to ratification by
the Board, it is proposed that a second interim dividend of 3p per share be
declared in respect of the year to 31 December 2002, payable on 30 September
2002 to shareholders on the register at close of business on 6 September 2002.




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