Holding in Company

Fleming Smaller Co's Inv. Trust PLC
9 January 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     THE FLEMING SMALLER COMPANIES INVESTMENT TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     THE CHASE MANHATTAN CORPORATION 

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 SHAREHOLDER IN 2 ABOVE

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

     FLEMING INVESTMENT MANAGEMENT LTD                1,614,495
     FLEMING INVESTMENT TRUST MANAGEMENT LTD          1,088,127
     FLEMING PRIVATE ASSET MANAGEMENT LTD             3,580,938
     SAVE & PROSPER EQUITY PLAN MANAGERS LTD            614,325
     SAVE & PROSPER GROUP LTD                           832,957

5)   Number of shares/amount of stock acquired.

     NOT STATED

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

     NOT STATED

8)   ( N/A %) of issued Class

9)   Class of security

     ORDINARY 25P SHARES

10)  Date of transaction

      NOT STATED

11)  Date company informed

     29-DEC-00

12)  Total holding following this notification

     7,730,842
               
13)  Total percentage holding of issued class following this notification

     28.99%

14)  Any additional information



15)  Name of contact and telephone number for queries

     FRASER EASTON     020 7742 3425

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification .....09-JAN-2001...................