Top ten holdings

Shires Smaller Companies PLC
03 October 2006


3 October 2006



SHIRES SMALLER COMPANIES PLC



In accordance with UKLA Listing Rule 21.20 (1) (ii), Shires Smaller Companies
PLC announces that at 29 September 2006 the ten largest investments held were as
follows:

Company                                              £        % of Total
                                                                Assets

Ecclesiastical Ins Off 8.625% Pref Shares          3,368,750      3.9
Fisher (James) Ord                                 2,946,000      3.4
Standard Chartered 8.25%                           2,770,000      3.2
European Motor Holdings Ord                        2,220,750      2.6
Co-Operative Bank 9.25% Non-Cum Pref Shares        2,208,750      2.6
Titan Europe Ord                                   2,158,247      2.5
Brit Insurance Holdings                            2,011,665      2.4
Highway Insurance Holdings Ord                     1,882,500      2.2
ATH Resources Ord                                  1,849,231      2.2
Menzies (J) Ord                                    1,773,000      2.1



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