Holding(s) in Company

F&C Smaller Companies PLC
12 November 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

 1. Name of company

    F&C Smaller Companies PLC

    2) Name of shareholder having a major interest

    RSA Life & Pensions Fund

    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

    Chase Nominees Ltd

    5) Number of shares/amount of stock acquired

    N/A

    6) Percentage of issued class

    N/A

    7) Number of shares/amount of stock disposed

    100,000

    8) Percentage of issued class

    0.12%

    9) Class of security

    Ordinary shares of 25p each

    10) Date of transaction

    4th November 2003

    11) Date company informed

    5th November 2003

    12) Total holding following this notification

    2,539,800

    13) Total percentage holding of issued class following this notification

    2.94% (ceased to have notifiable interest)

    14) Any additional information

    15) Name of contact and telephone number for queries

    David Fallon
    Tel: [phone]

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

    David Fallon
    For and on behalf of F&C Management Limited

    Date of notification

    12 November 2003




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