Holding(s) in Company

3i Smaller Quoted Co's Trust PLC
13 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

Legal & General Group plc and/or its subsidiaries

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 held (all
                                                             material interests)

HSBC Global Custody Nominee (UK) Ltd a/c 914945                           23,964
HSBC Global Custody Nominee (UK) Ltd a/c 775245                          250,000
HSBC Global Custody Nominee (UK) Ltd a/c 357206                        2,466,626
HSBC Global Custody Nominee (UK) Ltd a/c 747381                           99,640
HSBC Global Custody Nominee (UK) Ltd a/c 866203                           79,000
HSBC Global Custody Nominee (UK) Ltd a/c 360509                           55,577
Total                                                                  2,974,807

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. Dates of transaction

Not known

11. Date company informed

13 December 2004

12. Total holding following this notification

2,974,807

13. Total percentage holding of issued class following this notification

5.81%

14. Any additional information

none

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

13 December 2004




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