Director Shareholding

Merrill Lynch Br. SmallerCo Tst PLC
06 April 2005

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company

Merrill Lynch British Smaller Companies Trust plc

2) Name of director

William Govett

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

Above named director

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them (if notified)

Giltspur Nominees a/c BUNS

5) Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s)

N/A

6) Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/non
discretionary of ordinary shares

Purchase of ordinary shares

7) Number of shares/amount of stock acquired

10,000

8) Percentage of issued class

0.019%

9) Number of shares/amount of stock disposed

N/A

10) Percentage of issued class

N/A

11) Class of security

Ordinary shares of 25p each

12) Price per share

224.5p

13) Date of transaction

1 February 2005

14) Date company informed

5 April 2005 (due to an administrative error, this information was not
disclosed)

15) Total holding following this notification

25,000 Beneficial

16) Total percentage holding of issued class following this notification

0.049%

17) Any additional information

None

18) Contact name for queries

Ms C Driscoll

19) Contact telephone number

020 7743 2427

20) Name of authorised company official responsible for making notification

Ms C Driscoll
Merrill Lynch Investment Managers Group Services Limited
Secretary


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