Holding in Company

North Atlantic Smlr Co Inv Tst PLC
19 July 2000



                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

CO-OPERATIVE INSURANCE SOCIETY LIMITED


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

AS IN 2


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

NOT KNOWN


5)   Number of shares/amount of stock acquired.

N/A


6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

80,000


8)   ( - %) of issued Class


9)   Class of security

ORDINARY SHARES OF 5P EACH


10)  Date of transaction

11 JULY 2000


11)  Date company informed

19 JULY 2000


12)  Total holding following this notification

492,000
               
              
13)  Total percentage holding of issued class following this notification

4.56%


14)  Any additional information

CO-OPERATIVE INSURANCE SOCIETY HOLDS THE SHARES AS BENEFICIAL OWNER.  THE
NOTIFICATION ARISES BY VIRTUE OF APPROVED STOCK LENDING ACTIVITY UNDERTAKEN BY
CO-OPERATIVE INSURANCE SOCIETY LIMITED


15)  Name of contact and telephone number for queries

J O HAMBRO CAPITAL MANAGEMENT LIMITED 
COMPANY SECRETARY
R RUTLIN  020 7747 5680

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

     Date of Notification .... 19 JULY 2000 ......