Holding(s) in Company

Shires Smaller Companies PLC
18 January 2008

                                                                      APPENDIX 3



TR-1i: 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):

            Shires Smaller Companies plc



2.         Reason for the notification (please state Yes/No):



An acquisition or disposal of voting rights: Yes



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



An event changing the breakdown of voting rights: n/a



Other:  n/a



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

            Philip J Milton & Company Plc


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

            Investment clients of Philip J Milton & Company Plc



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

            17/12/07



6.         Date on which issuer notified:

            20/12/07



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

            4%



8.         Notified details:





A: Voting rights attached to shares


                          Situation previous to the Triggering transaction (vi)
Class/type of shares if possible           Number of shares             Number of voting rights (viii)
using the ISIN CODE
                                               849,204                              849,204




Resulting situation after the triggering transaction (vii)


Class/type of shares if          Number of shares       Number of voting rights (ix)       % of voting rights
possible using the ISIN CODE
GB0000059971                           n/a             Direct (x)     Indirect (xi)       Direct      Indirect

                                                        874,737          874,737            4%



B: Financial Instruments

Resulting situation after the triggering transaction (xii)


Type of         Expiration Date       Exercise/Conversion       Number of voting rights     % of voting rights
financial       (xiii)                Period/ Date (xiv)        that may be acquired if the
instrument                                                      instrument is exercised/
                                                                converted.
n/a             n/a                   n/a                       n/a                         n/a





Total (A+B)
   Number of voting rights          % of voting rights

           874,737                          4%





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

n/a



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:

            Philip J Milton & Company Plc



13.       Additional information:

These shares may be registered under our Administrators nominee name of: Puddle
Dock Nominees Limited



14.       Contact name:

            Graeme McDonald



15.       Contact telephone number:

            0131 313 1000






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