Holding in Company

North Atlantic Smlr Co Inv Tst PLC
6 March 2001

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company


     NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC

2)   Name of shareholder having a major interest


     HALIFAX GROUP PLC


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


     NOT DISCLOSED

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


     HSBC GLOBAL CUSTODY NOMINEES (UK) LTD A/C 744285 - 15,766 SHARES

     THE EQUITABLE LIFE ASSURANCE SOCIETY - 2,296,000 SHARES

     HSBC GLOBAL CUSTODY NOMINEES (UK) LTD A/C 888569 - 634,000 SHARES

5)   Number of shares/amount of stock acquired

     2,930,000 SHARES

6)   Percentage of issued class

     27.59%

7)   Number of shares/amount of stock disposed



8)   Percentage of issued class




9)   Class of security

     ORDINARY SHARES OF 5p



10)  Date of transaction


     1 MARCH 2001



11)  Date company informed

     6 MARCH 2001



12)  Total holding following this notification

     2,945,766 ORDINARY SHARES


13)  Total percentage holding of issued class following this notification

     27.74%

14)  Any additional information



15)  Name of contact and telephone number for queries

     BONITA DRYDEN - 020 7747 5681

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

     Date of notification ..6 MARCH....2001