Notification of major interes

Shires Smaller Companies PLC
15 March 2007




                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



1) Name of company: Shires Smaller Companies

2) Name of shareholder having a major interest: Shires Income Plc

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

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

Shires Income Plc 4,000,000

5) Number of voting rights of stock acquired: Disclosure made under Transparency
Directive

6) Percentage of issued class:

7) Number of voting rights of stock disposed

8) Percentage of total voting rights

9) Class of security: Ordinary 50p shares

10) Date of transaction: 15 March 2007

11) Date company informed: 15 March 2007

12) Total holding following this notification: 4,000,000

13) Total percentage holding of voting rights following this notification:

18.1%

14) Any additional information

15) Name of contact and telephone number for queries: Sonia Paterson - 0141 572
2700

16) Name and signature of authorised company official responsible for
making this notification: Graeme McDonald


Date of notification: 15 March 2007





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