Holding in Company

Perpetual UK Smaller Co's IT PLC
26 July 2001

Headline:     Holding in Company



           Schedule 10 - Notification of Major Interests in Shares


1.         Name of Company

           Perpetual UK Smaller Companies Investment Trust plc


2.         Name of shareholder having a major interest


           Liverpool Victoria Asset Management Limited on behalf of Liverpool   
           Victoria Friendly Society Limited and Liverpool Victoria (1994) Staff
           Pension Scheme



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 of children under the age of 18:



           Notification is in respect of the shareholder named in 2 above


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


           N/A


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:


           200,000


8.         Percentage of issued class:


           1.42


9.         Class of security:


           Ordinary shares


10.        Date of Transaction:


           26 July 2001


11.        Date company informed:


           26 July 2001


12.        Total holding following this notification:


           302,976



13.        Total percentage holding of issued class following this
           notification:


           2.16%


14.        Contact name for queries:


           Jonathan McGuire


15.        Contact telephone number:


           0207 454 3185


16.        Name of company official responsible for making notification:


           Jonathan McGuire
           for INVESCO Asset Management Limited, Secretaries



17.        Date of notification:


           26 July 2001



Additional Information



Liverpool Victoria Friendly Society sold 165,517 shares and Liverpool Victoria
(1994) Staff Pension Scheme sold 34,483 shares.



Liverpool Victoria Asset Management no longer has a notifiable interest in the
Company.