German Smaller Co - Holding under SAR 3

RNS No 6754v
GERMAN SMALLER COMPANIES INVESTMENT TRUST PLC
6 August 1999



FORM SAR 3

Date of disclosure          06-8-99


DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING SUBSTANTIAL ACQUISITIONS OF
SHARES ("SARs")


Date of acquisition        05-8-99


Acquisition in  German Smaller Co's Investment Trust PLC  (name of company)


(1) Class of voting shares  Number of shares/rights over  If rights over      
                            Shares acquired               Shares              
(eg Ordinary Shares)                                      acquired, as opposed
                                                          to the shares ,     
                                                          themselves, specify
                                                          nature of rights
      Ordinary              250,000       shares           
                                          rights         


(2 Resultant total holding of   Resultant total holding of   Total percentage
   voting shares (and % of      rights over shares (and % of
   total voting shares in issue total voting shares in issue

   8,595,000  (21.69%)           ..................         8,595,000 (21.69%)


(3) Party making disclosure  SG Securities (London) Limited

(4) (a) Name of person acquiring shares or rights over shares
  
        SG Securities (London) Limited

           and if different, beneficial owner..

      (b) Names of any other persons acting by
            agreement or understanding (see SAR 5) 

For and on behalf of the party named in (3) above ..
                   
Stuart Mclerie

Telephone and extension number..0171 522 1506

Note. Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of or
acquisition by one person. Note 3 on SAR 5 requires persons who must aggregate
holdings to disclose certain disposals.

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Tel NO:
0171-382 9026.

END

SATBXGBIDDGCCCL