Holding(s) in Company

3i Smaller Quoted Co's Trust PLC
01 December 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

AXA S.A. and its Group 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

Name of the Company / Fund    Number of      Particulars of Beneficial Owners      Registered as
                              shares

Sun Life Unit Assurance Ltd A      1,693,989 Sun Life Unit Assurance Ltd           HSBC Global Custody Nominee (UK)
/c X                                                                               Limited
                                                                                   Mariner House
                                                                                   Pepys Street
                                                                                   London EC3N 4DA
                                                                                   a/c 867050

Sun Life Pensions Management           7,500 Sun Life Pensions Management Ltd      Smith & Williamson Nominees Ltd 1
Ltd                                                                                Riding House Street
                                                                                   London W1A 3AS
                                                                                   a/c S66

Sun Life Pensions Management           1,243 Sun Life Pensions Management Ltd      BNY (OCS) Nominees Limited, One
Ltd                                                                                Canada Square
                                                                                   London E14 5AL

                        Total      1,702,732

5. Number of shares / amount of stock acquired

N/A

6. Percentage of issued class

N/A

7. Number of shares / amount of stock disposed

830,855

8. Percentage of issued class

1.62%

9. Class of security

Ordinary shares of 25p each

10. Date of transaction

not known

11. Date company informed

1 December 2004

12. Total holding following this notification

1,702,732

13. Total percentage holding of issued class following this notification

3.33%

14. Any additional information

The notification was made by AXA Investment Managers UK Ltd on behalf of AXA 
S.A. of 25 Avenue Matignon, 75008 Paris and its Group companies.

15. Name of contact and telephone number for queries

Robin Jack-Kee - 020 7975 3515

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

1 December 2004


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