Dividend Declaration

Shires Smaller Companies PLC
07 April 2005


News Release

7 April 2005

Shires Smaller Companies plc

The Board of Shires Smaller Companies plc has declared a first interim dividend
of 3.0p per share in respect of the year to 31 December 2005 (first interim
2004: 3.0p) payable on 29 April 2005 to shareholders on the register at close of
business on 15 April 2005.

Shires Smaller Companies plc is managed by Glasgow Investment Managers Limited.

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