Directors' Dealings

PERPETUAL UK SMALLER COMPANIES INVESTMENT TRUST PLC
17 September 1999



Schedule 11 - Notification of interests of Directors and Connected Persons

1   Name of company:
Perpetual UK Smaller Companies Investment Trust plc

2   Name of director:
J A J Berry

3   Please state whether notification indicates that it is in respect of     
holding of the director named in 2 above or holding of that person's spouse or
children under the age of 18 or in respect of a non- beneficial interest:
Non-beneficial interest

4   Name of registered holder(s) and, if more than one holder, the number of 
shares held by each of them (if notified):
Harbour Nominees Limited

5   Please state whether notification relates to a person(s) connected with  
the director named in 2 above and identify the connected person(s):
Private clients of J A J Berry's asset management company

6   Please state the nature of the transaction. For PEP transactions please  
indicate whether general/single co PEP and if discretionary/non discretionary:


7   Number of shares/amount of stock acquired:


8   Percentage of issued class:


9   Number of shares/amount of stock disposed:
22,750

10  Percentage of issued class:
0.16%

11  Class of security:
Ordinary

12  Price per share:
£3.97

13  Date of transaction:
16th September 1999

14  Date company informed:
16th September 1999

15  Total holding following this notification:
Beneficial - 5,334  Non-beneficial - 44,449   Total - 49,783

16  Total percentage holding of issued class following this notification:
0.35%

If a director has been granted options by the company, please complete the
following fields:

17  Date of grant:


18  Period during which or date on which exercisable:


19  Total amount paid (if any) for grant of the option:


20  Description of shares or debentures involved: class, number:


21  Exercise price (if fixed at time of grant) or indication that price is to
be fixed at time of exercise:


22  Total number of shares or debentures over which options held following
this notification:


23  Contact name for queries:
Gillian Kelley

24  Contact telephone number:
01491 417313

25  Name of company official responsible for making notification:
Charles Henderson