North Atl.smlr Regulatory News (NAS)

1.

Name of the issuer

NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC

2.

State whether the notification relates to (i) a

transaction notified in accordance with DTR 3.1.2 R,

(ii) a disclosure made in accordance

LR 9.8.6R(1) or

(iii) a disclosure made in accordance with section 793 of the Companies Act (2006).

3.

Name of person discharging managerial

responsibilities/director

CHRISTOPHER HARWOOD BERNARD MILLS - DIRECTOR

4.

State whether notification relates to a person

connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

Charles Mills (son over 18 so non-beneficial) - 11,849 shares

H Mills (son) - 11,849 shares

N Mills (son over 18 so non-beneficial) - 11,850 shares

5.

Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a nonbeneficial

interest 1

SEE NOTE 4

6.

Description of shares (including class), debentures or derivatives or financial instruments relating to shares

ORDINARY SHARES

7.

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

NOT DISCLOSED

8.

State the nature of the transaction

PURCHASE

9.

Number of shares, debentures or financial

instruments relating to shares acquired

35,548 SHARES

10.

Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

0.25%

11.

Number of shares, debentures or financial

instruments relating to shares disposed

12.

Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

13.

Price per share or value of transaction

965 PENCE PER SHARE

14.

Date and place of transaction

9 SEPTEMBER 2010, LONDON

15.

Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

3,198,447 ORDINARY SHARES (22.38%)

16.

Date issuer informed of transaction

9 SEPTEMBER 2010

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 and number)

21.

Exercise price (if fixed at time of grant) or

indication that price is to be fixed at the time of exercise

22.

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

23.

Any additional information

24.

Name of contact and telephone number for queries

MARK PURNELL, J O HAMBRO CAPITAL MANAGEMENT LIMITED 020 7747 8952

Name of authorised official of issuer responsible for making notification

FOR AND ON BEHALF OF J O HAMBRO CAPITAL MANAGEMENT LIMITED AS COMPANY SECRETARY OF NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC

………………………………………

MARK PURNELL

Date of notification 10 SEPTEMBER 2010

(1)

An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2)

An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.

(3)

An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4)

An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.