Gartmore Smaller Companies Trust p.l.c. (the "Company")            

The Company announces that on 24th April 2003 it purchased in the market for
cancellation 100,000 Ordinary shares at a price of 209 pence per share.

This purchase of Ordinary shares, pursuant to a general authority given by
shareholders at the Company's Annual General Meeting on 19th November 2002,
represents 0.7% of the shares in issue. The transaction has reduced the number
of Ordinary shares in issue to 14,155,000.

To date, a total of 245,000 Ordinary shares have been bought-back for
cancellation.

Gartmore Investment Limited

Secretaries

25th April 2003



END