Quarterly Rule 21.20

3i Smaller Quoted Co's Trust PLC
02 June 2004


Pursuant to Listing Rule 21.20(l)(ii), 3i Smaller Quoted Companies Trust plc
announces that, as at the last business day of the quarter to 31 May 2004, the
Company had no holdings amounting to greater than 5% of its gross assets and
that its ten largest investments were as follows:

BSS Group plc
Aveva Group plc
Parkdean Holidays plc
Blacks Leisure Group plc
Chaucer Holdings plc
Dicom Group plc
CSR plc
Ottakar's plc
Holidaybreak plc
Dechra Pharmaceuticals plc


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