Holding(s) in Company

Scottish Oriental Smlr Co Tst PLC
23 January 2002


Notification of Major Interests in Shares

1 Name of company:

The 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 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:

22nd January 2002

11 Date company informed:

23rd January 2002

12 Total holding following this notification:

1,234,399

13 Total percentage holding of issued class following this notification:

4.85%

14 Contact name for queries:

Shona Darling of First State Investments (UK)

15 Contact telephone number:

0131 473 2200

16 Name of company official responsible for making notification:



17 Date of notification:



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