8 July 2004

Edinburgh UK Smaller Companies Tracker Trust PLC

Notifiable Holding

Edinburgh UK Smaller Companies Tracker Trust plc ('the Company') has been
notified that Carrousel Capital Limited is interested in 6,924,640 Ordinary 25p
shares, representing 10.23% of the issued share capital.

The breakdown of holdings is as follows:

Fund Name              No. of shares   Percentage of
                                       issued share cap.
The Carrousel Fund     3,019,640       4.46%
Ltd
The Carrousel Fund II  3,905,000       5.77%
Ltd
Total                  6,924,640       10.23%
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