Holding(s) in Company

Scottish Oriental Smlr Co Tst PLC
18 January 2005



Notification of acquisition of Major Interests in Shares

1 Name of company:

The Scottish Oriental Smaller Companies Trust PLC ('Company')

2 Name of shareholder having a major interest:

Banque Generale Luxembourg and Sarasin Investmentfonds AG SaraPro

3 Please state whether the notification indicates that it is in respect of the 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:

The shareholders are nominees in respect of the Funds set out below

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

Banque Generale Luxembourg as nominee of The Sarasin SICAV EmergingSar Fund  - 1,325,000 shares
Sarasin Investmentfonds AG SaraPro as nominee of The Sarasin SaraPro Emerging Markets Fund - 200,000 shares

5 Number of shares/amount of stock acquired:
Banque Generale Luxembourg as nominee of The Sarasin SICAV EmergingSar Fund  - 900,000
Sarasin Investmentfonds AG SaraPro as nominee of The Sarasin SaraPro Emerging Markets Fund - 200,000 shares

6 Percentage of issued class:
4.32%

7 Number of shares/amount of stock disposed:

N/A

8 Percentage of issued class:

N/A

9 Class of security:

Ordinary shares of 25p each in the capital of the Company

10 Date of transaction:
6th January 2005

11 Date company informed:

17th January 2005

12 Total holding following this notification:

The Sarasin SICAV EmergingSar Fund  - 1,325,000 Ordinary shares of 25p each in the capital of the Company
The Sarasin SICAV EmergingSar Asia Fund - 1,120,000 Ordinary shares of 25p each in the capital of the Company
The Sarasin SaraPro Emerging Markets Fund - 200,000 Ordinary shares of 25p each in the capital of the Company

13 Total percentage holding of issued class following this notification:

10.38%

14 Contact name for queries:

Gillian Davies of First State Investment Management (UK) Limited

15 Contact telephone number:

0131 473 2224

16 Name of company official responsible for making notification:

Gillian Davies

17 Date of notification:

18th January 2005



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