RNS Number:5050S
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

BFS Investments Limited


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

BFS Income & Growth                  1,000,000 (1.56%)

BFS Equity Income & Bond Trust        500,000 (0.78%)

BFS Asian Assets Trust Ltd            500,000 (0.78%)

BFS US Special Opportunities Trust    645,000 (1.01%)

BFS UK Dual Return Trust Plc          715,000 (1.11%)

Geared Income Investment Trust        3,000,000 (4.68%)

5)   Number of shares/amount of stock acquired



6)   Percentage of issued class



7)   Number of shares/amount of stock disposed

3,000,000


8)   Percentage of issued class

4.68%


9)   Class of security

Ordinary


10)  Date of transaction

n/a


11)  Date company informed

25/11/03


12)  Total holding following this notification

3,360,000



13)  Total percentage holding of issued class following this notification

5.24%


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
            The company news service from the London Stock Exchange
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