Holding(s) in Company

3i Smaller Quoted Co's Trust PLC
22 May 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company
3i Smaller Quoted Companies Trust plc

2. Name of shareholder having a major interest
Prudential plc and certain of its subsidiary companies

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
In respect 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

                       Registered Holder                        Holding

Prudential plc         PRUCLT HSBC GIS NOM(UK) PAC AC           1,680,755
                       PRUCLT HSBC GIS NOM(UK) PHL AC           1,116,816
                       PRUCLT HSBC GIS NOM(UK) PPL AC              80,000

                                                 Total          2,877,571

5. Number of shares / amount of stock acquired
not known

6. Percentage of issued class
not known

7. Number of shares / amount of stock disposed
not known

8. Percentage of issued class
not known

9. Class of security
Ordinary shares of 25p each

10. Date of transaction
not known

11. Date company informed
21 May 2003

12. Total holding following this notification
2,877,571

13. Total percentage holding of issued class following this notification
5.14%

14. Any additional information

1. Notification made by M&G Investment Management Limited. For the purposes of 
s210 of the Companies Act 1985 (as amended) the address for the registered 
holders notified above is Laurence Pountney Hill, London EC4R 0HH.

2. The Prudential Assurance Company Limited is interested in all the shares held 
in names of PRUCLT HSBC GIS NOM(UK) PAC AC (1,680,755) and PRUCLT HSBC GIS 
NOM(UK) PPL AC (80,000) which are listed in 4 above.

3. Please note that due to a clerical error, the previous notification on 16 
January 2003 which stated that the Prudential plc and its subsidiaries had an 
interest in 4,538,041 (7.96%) of the Company's shares was incorrect.  Their 
interest, at that time, was actually in 2,777,286 (4.86%) of the Company's 
shares.

15. Name of contact and telephone number for queries
Pandora Sharp - 020 7975 3228

16. Name and signature of authorised company official responsible for making
this notification
For and on behalf of 3i plc, Secretaries to 3i Smaller Quoted Companies Trust plc

Date of notification
22 May 2003


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