Top Ten Holdings

Shires Smaller Companies PLC
04 October 2005


4 October 2005

SHIRES SMALLER COMPANIES PLC

In accordance with UKLA Listing Rule 21.20 (1) (ii), Shires Smaller Companies
PLC announces that at 30 September 2005 the ten largest investments held were as
follows:

Company                                                  £   % of Total Assets

Fisher (James)                                   2,783,111                 3.4
Ecclesiastical Ins Off 8.625% Pref Shares        2,680,000                 3.2
Menzies (J)                                      2,344,000                 2.8
Barratt Developments                             2,266,500                 2.7
Titan Europe                                     2,236,317                 2.7
Balfour Beatty Cumulative Convertible Pref       2,214,000                 2.7
Shares
Woolworths Bond                                  2,055,000                 2.5
Peacock Group                                    2,044,770                 2.5
Co-Operative Bank 9.25% Non-Cum Pref Shares      2,001,750                 2.4
Dawson Holdings                                  1,867,800                 2.3

Shires Smaller Companies plc is managed by Glasgow Investment Managers Limited



                      This information is provided by RNS
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