Holding(s) in Company

Scottish Oriental Smlr Co Tst PLC
23 December 2004



Notification of disposal of Major Interests in Shares

1 Name of company:

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

2 Name of shareholder having disposed of a major interest:

The shareholder which has disposed of the interest is The First State Asia
Pacific Fund, a sub-fund of First State  Investments ICVC (an open-ended
investment company with variable capital).  First State Investments (UK) Limited
is the  authorised corporate director of First State Investments ICVC and is in
the same corporate group as First State  Investment Management (UK) Limited, the
investment manager of The Scottish Oriental Smaller Companies Trust PLC.

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

The First State Asia Pacific Fund has sold 100,000 shares on each of 22 December
2004 and 23 December 2004.

4 Number of shares/amount of stock disposed:

200,000 in total

5 Percentage of issued class held prior to the transactions:

6.77%

6 Percentage of issued class held after the transactions:

5.99%

7 Class of security:

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

8 Date of transaction:

22 December 2004 and 23 December 2004.

9 Total holding following this notification:

1,525,740 Ordinary shares of 25p each in the capital of the Company

10 Contact name for queries:

Adrian Smith of First State Investments

11 Contact telephone number:

0131 473 2286

12 Name of company official responsible for making notification:

Adrian Smith

13 Date of notification:

23 December 2004



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