RNS Number:1745L
Britannic Smaller Companies Tst PLC
15 May 2003

                     BRITANNIC SMALLER COMPANIES TRUST PLC

                CONTACT: MARIE ROSS (TEL NO: 0141 - 222 - 8288)

                                  15 MAY 2003





Announcement begins



Britannic Smaller Companies Trust PLC announces that it has received
notification that the total interest held by Allianz AG and subsidiaries in the
Company is 1,461,488 Ordinary Shares representing 3.84% of the issued share
capital.



Announcement ends




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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