Holding in Company

North Atlantic Smlr Co Inv Tst PLC
2 July 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

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 ABOVE

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

NOT DISCLOSED


5)   Number of shares/amount of stock acquired

81,000


6)   Percentage of issued class

0.70%

7)   Number of shares/amount of stock disposed


8)   Percentage of issued class


9)   Class of security

ORDINARY SHARES OF 5P EACH

10)  Date of transaction

2 JULY 2001

11)  Date company informed

2 JULY 2001

12)  Total holding following this notification

481,692 ORDINARY SHARES


13)  Total percentage holding of issued class following this notification

4.15%

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


      BONITA DRYDEN


     Date of notification ...2 JULY...2001..