RNS Number:7638Q
North Atlantic Smlr Co Inv Tst PLC
10 October 2003







                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1)  Name of company

NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC

2)  Name of director

K SIEM

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 or in respect of
a non-beneficial interest


4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them (if notified)

J M FINN NOMINEES LIMITED


5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

THE NEWLY ACQUIRED SHARES ARE HELD BY THE NOREX 1989 PLC PENSION SCHEME

WHICH IS A PENSION SCHEME ASSOCIATED WITH ASTON FINANCIAL LIMITED.

MR SIEM IS CHAIRMAN, CHIEF EXECUTIVE, OFFICER AND SHAREHOLDER OF

SIEM INDUSTRIES INC.,THE ULTIMATE HOLDING COMPANY OF ASTON FINANCIAL LIMITED.

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

ACQUISITION


7)  Number of shares/amount of
    stock acquired

20,000 SHARES

8)  Percentage of issued class

0.16%

9)  Number of shares/amount
    of stock disposed

10) Percentage of issued class

11) Class of security

ORDINARY SHARES OF 5P EACH

12) Price per share

550p

13) Date of transaction

9 OCTOBER 2003

14) Date company informed


10 OCTOBER 2003

15) Total holding following this notification


20,000 SHARES

16) Total percentage holding of issued class following this notification


0.16%


If a director has been granted options by the company please complete the
following boxes

17) Date of grant


18) Period during which or date on which exercisable


19) Total amount paid (if any) for grant of the option


20) Description of shares or debentures involved: class, number


21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise


22) Total number of shares or debentures over which options held
    following this notification


23) Any additional information


24) Name of contact and telephone number for queries

BONITA DRYDEN - 020 7747 5681

25) Name and signature of authorised company official responsible for
    making this notification
    FOR AND ON BEHALF OF J O HAMBRO CAPITAL MANAGEMENT LIMITED AS COMPANY
SECRETARY OF

    NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC


    Date of Notification....10 OCTOBER 2003.............




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