RNS Number:7827T
Britannic Smaller Companies Tst PLC
02 January 2004




Announcement begins

Britannic Smaller Companies Trust PLC announces that as at the close of business
on 31 December 2003, the unaudited net asset value per share as calculated in
accordance with the AITC formula (excluding current financial year revenue
items) was 181.27p.




For further information contact:

Donna Reid
Britannic Investment Managers Limited
0141 - 222 - 8257


Announcement Ends




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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