Top Ten Holdings

Shires Smaller Companies PLC
03 July 2007

3 July 2007


SHIRES SMALLER COMPANIES PLC

In accordance with UKLA Listing Rule 21.20 (1) (ii), Shires Smaller Companies
PLC announces that at 30 June 2007 the ten largest investments held were as
follows:

Company                                                                    £         % of  Total Assets


Aviva 8.75% & General Accident 8.78%                                       7,724,013        8.3
Chesnara                                                                   2,568,750        2.8

Fisher (James)                                                             2,406,000        2.6

Titan Europe                                                               2,243,872        2.4
Domino's Pizza                                                             2,214,000        2.4
Highway Insurance Holdings                                                 2,212,500        2.4

Menzies (J)                                                                2,198,000        2.4

Hill & Smith                                                               2,131,665        2.3
XP Power Ltd                                                               2,067,723        2.2
F&C Asset Management                                                       1,840,000        2.0



Shires Smaller Companies plc is managed by Glasgow Investment Managers Limited


                      This information is provided by RNS
            The company news service from the London Stock Exchange