GARTMORE SMALLER COMPANIES TRUST P.L.C.                    

In accordance with Listing Rule 21.20(l)(i), Gartmore Smaller Companies Trust
p.l.c. announces that at 30th November 2003 there were no holdings in companies
that do not have policies to invest less than 15% in investment companies.

Gartmore Investment Limited

Secretaries

2 December 2003



END