Holding(s) in Company

SCHEDULE 10

                    NOTIFICATION OF MAJOR INTERESTS IN SHARES
1)   Name of company:
     Edinburgh Small Companies Trust plc

2)   Name of shareholder having a major interest
     Royal London Asset Management

3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18
     On behalf of 2 above

4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them
     Royal London UK Small Cap - Chase Nominees Ltd - 4,040,396 shares
     SLAC Main Fund (UK Small Cap) - Chase Nominees Ltd - 1,292,978 shares.

5)   Number of shares/amount of stock acquired
     Not disclosed

6)   Percentage of issued class
     Not disclosed

7)   Number of shares/amount of stock disposed,
     n/a

8)   Percentage of issued class
     n/a

9)   Class of security
     Ordinary 25p shares

10)  Date of transaction
     Not disclosed

11)  Date company informed
     23 November 2004

12)  Total holding following this notification
     5,333,374

13)  Total percentage holding of issued class following this notification
     7.91%

14)  Any additional information
     N/A

15)  Name of contact and telephone number for queries
     Stuart Reid - Company Secretary - 0131 313 1000

16)  Name and signature of authorised company official responsible for
     making this notification - Date of notification - 23 November 2004