Director Shareholding

North Atlantic Smlr Co Inv Tst PLC
30 April 2002

Mr Christopher Mills is beneficially interested in 1,412,608 ordinary shares of
5p each and has a non-beneficial interest in 26,500 ordinary shares of 5p each
in the issued share capital of North Atlantic Smaller Companies Investment Trust
PLC.

He has a beneficial interest in 253,500 units of Convertible Unsecured Loan
Stock 2013.

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