yRNS Number:5039S
Exeter Smaller Co's Income Fund Ld
26 November 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

Exeter Smaller Companies Income Fund Limited



2)   Name of shareholder having a major interest
Geared Income Investment Trust


3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18
As per (2) above


4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them
HSBC Global Custody Nominees Ltd A/c 863147





5)   Number of shares/amount of stock acquired



6)   Percentage of issued class



7)   Number of shares/amount of stock disposed
1,500,000


8)   Percentage of issued class
2.34%


9)   Class of security
Ordinary


10)  Date of transaction
N/a


11)  Date company informed
25/11/03


12)  Total holding following this notification
1,500,000



13)  Total percentage holding of issued class following this notification
2.34%


14)  Any additional information
No


15)  Name of contact and telephone number for queries
David Le Boutillier: 01481 710607


16)  Date of notification:

25/11/03







                      This information is provided by RNS
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