Top 10 Holdings

Shires Smaller Companies PLC
03 January 2007


3 January 2007


SHIRES SMALLER COMPANIES PLC

In accordance with UKLA Listing Rule 21.20 (1) (ii), Shires Smaller Companies
PLC announces that at 31 December 2006 the ten largest investments held were as
follows:

Company                                              £        % of Total
                                                                Assets

General Accident 8 7/8% Pref Shares                3,656,250      4.0
Brit Insurance Holdings                            3,155,000      3.4
Chesnara Ord                                       2,632,500      2.9
Ecclesiastical Ins Off 8.625% Pref Shares          2,603,000      2.8
Fisher (James) Ord                                 2,418,000      2.6
Titan Europe Ord                                   2,407,567      2.6
Highway Insurance Holdings Ord                     2,332,500      2.5
Menzies (J) Ord                                    2,024,000      2.2
European Motor Holdings Ord                        2,005,780      2.2
Carter & Carter Ord                                1,836,625      2.0


Shires Smaller Companies plc is managed by Glasgow Investment Managers Limited



                      This information is provided by RNS
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