Holding in Company

Scottish Oriental Smlr Co Tst PLC
2 November 2001

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES

1) Name of company

Scottish Oriental Smaller Companies Trust Plc

2) Name of shareholder having a major interest

Philip J Milton & Company 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



4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them
Notification follows regular portfolio adjustments of shares under the
discretionary control of Philip J Milton & Company Plc on behalf of its many
discretionary clients.


5) Number of shares/amount of stock acquired



6) Percentage of issued class



7) Number of shares/amount of stock disposed



8) Percentage of issued class



9) Class of security
Ordinary shares of 25p


10) Date of transaction



11) Date company informed
1st November 2001


12) Total holding following this notification
1,293,626


13) Total percentage holding of issued class following this notification
5.08%


14) Any additional information



15) Name of contact and telephone number for queries
James Ayling 0131 473 2200


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

Date of notification: 2nd November 2001