Transaction in Own Shares

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


3i Smaller Quoted Companies Trust plc


On 11 and 16 June 2004, 3i Smaller Quoted Companies Trust plc announced that it
had purchased 100,000 and 200,000 respectively of its own Ordinary Shares of 25p
each, for cancellation.  The Company now confirms that all these shares were
cancelled on 25 June 2004.

The Company's issued share capital is now 51,163,523 Ordinary Shares of 25p
each.


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