German Smaller Co - Holding in Company

RNS No 2549q
GERMAN SMALLER COMPANIES INVESTMENT TRUST PLC
29 July 1999

LETTER TO GERMAN SMALLER COMPANIES INVESTMENT TRUST PLC

COMPANIES ACT 1985, (AS AMENDED) SECTIONS 198 TO 210A DISCLOSURE OF INTEREST IN
SHARES.

In accordance with the above provisions we hereby give you notice that the
Co-operative Insurance Society Limited holds, as beneficial owner, 1,062,344
German Smaller Companies Investment Trust Ordinary 25p shares at the close of
business on 29 July 1999 this being equal to 2.68% of the relevant issued share
capital of 39,628,894.  The decrease in our percentage holding was as a result
of the following transactions.

Date                Transaction type              Number of ordinary shares

29/7/99             Stock Loan Return             150,000
29/7/99             Sale                          311,120

Co-operative Insurance Society Limited holds the shares as beneficial owner.
The notification given in this letter partly arises by virtue of approved stock
lending activity undertaken by Co-operative Insurance Society Limited.

You note also that Co-operative Insurance Society Limited has, under the terms
of its stock lending agreement, the right to call for delivery to it of
shares of an identical type, nominal value, description and amount to the
securities lent.  By virtue of section 208(5) of the Companies Act 1985, such
right is deemed to be a notifiable interest in such securities.


FROM  CO-OPERATIVE INSURANCE SOCIETY LIMITED

END

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