Holding in Company

Edinburgh Small Companies Trust PLC
19 July 2001

TO:            The Company Announcement Office
               The London Stock Exchange



Company Name   Edinburgh Small Companies Trust plc
Issuer Name:   Edinburgh Fund Managers plc



The Company announces that it has become aware that between 20 April 2001 and
12 June 2001 The Value Catalyst Fund Ltd was, as a result of a stock lending
arrangement, interested in 5 million Ordinary shares in the Company,
equivalent to 7.0% of the issued Ordinary shares.  With effect from 12 June
2001 the holding was reduced to 0.2% of the Company's issued Ordinary shares.



For further information please contact:



Alex Gowans, Director, Edinburgh Fund Managers plc, 0131 313 6316



19 July 2001