RNS Number:5469U
Shires Smaller Companies PLC
22 January 2004

                       SHIRES SMALLER COMPANIES plc


The Net Asset Value of Shires Smaller Companies plc as at close of business on
21 January 2004 was 188.4p.

Shires Smaller Companies plc, an investment trust, is managed by Glasgow
Investment Managers Limited.



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

END
NAVGGGZMVZLGDZM