Directors' Dealings

NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC
22 July 1999


Schedule 11 - Notification of interests of Directors and Connected Persons

1   Name of company:
North Atlantic Smaller Cos Inv

2   Name of director:
Christopher Mills 

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:
Notification is in respect of shareholder named in two above

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


5   Please state whether notification relates to a person(s) connected with  
the director named in 2 above and identify the connected person(s):


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:
100,000

8   Percentage of issued class:
1.0%

9   Number of shares/amount of stock disposed:
-

10  Percentage of issued class:
-

11  Class of security:
Units of Convertible Unsecured Loan Stock 2013

12  Price per share:
465p

13  Date of transaction:
22 July 1999

14  Date company informed:
22 July 1999

15  Total holding following this notification:
349,000 Beneficial - 21,100 Non Beneficial

16  Total percentage holding of issued class following this notification:
3.59%

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:
Sonia Whiteside

24  Contact telephone number:
0171 222 2020

25  Name of company official responsible for making notification:
Sonia Whiteside on behalf of J O Hambro Capital Management Limited - Secretary





Additional Information: