Holding in Company

North Atlantic Smlr Co Inv Tst PLC
9 February 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

EXETER INVESTMENT 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

AS 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

EXETER SMALLER COMPANIES INCOME FUND - 150,000 SHARES
EXETER PREFERRED CAPITAL INVESTMENT TRUST - 50,000 SHARES

EXETER CAPITAL GROWTH FUND - 125,000 SHARES

5) Number of shares/amount of stock acquired

50,000 SHARES

6) Percentage of issued class

0.46%

7) Number of shares/amount of stock disposed

N/A

8) Percentage of issued class

N/A

9) Class of security

ORDINARY SHARES OF 5P EACH

10) Date of transaction

8 FEBRUARY 2001

11) Date company informed

9 FEBRUARY 2001

12) Total holding following this notification

325,000 SHARES

13) Total percentage holding of issued class following this notification

3.01%

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 ..9 FEBRUARY ...2001.....