RNS Number:6164U
Britannic Smaller Companies Tst PLC
26 January 2004




Announcement begins

Britannic Smaller Companies Trust PLC announces that as at the close of business
on 23 January 2004, the unaudited net asset value per share as calculated in
accordance with the AITC formula (excluding current financial year revenue
items) was 193.84p.

For further information contact:


Donna Reid
Britannic Investment Managers Limited
0141 - 222 - 8257


Announcement Ends




                      This information is provided by RNS
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