Holding in Company

Montanaro UK Smlr Cos Inv Tst PLC
3 October 2001



MONTANARO UK SMALLER COMPANIES INVESTMENT TRUST PLC

The Company was yesterday informed that on 18 September 2001, Millennium
Partners LP purchased 250,000 ordinary shares.

This transaction brings Millennium Partners' aggregate holding 4,335,000
ordinary shares, representing 11.63% of the issued share capital.

The shares are registered as follows:

Millennium Partners LP: 2,050,000 ordinary shares, representing 5.50% of the
issued share capital.

BC Nominees £2 Ltd: 2,285,000 ordinary shares, representing 6.13% of the
issued share capital.



03.10.01