Holding(s) in Company

3i Smaller Quoted Co's Trust PLC
31 August 2004

                                  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
QVT Fund LP

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                                            Number of shares
QVT Fund LP                                                  5,932,470

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
31 August 2004

12. Total holding following this notification
5,932,470

13. Total percentage holding of issued class following this notification
11.59%

14. Any additional information
None

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
31 August 2004




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