RNS Number:3788U
Britannic Smaller Companies Tst PLC
19 January 2004

Announcement begins

Britannic Smaller Companies Trust PLC announces that as at the close of business
on 16 January 2004, the unaudited net asset value per share as calculated in
accordance with the AITC formula (excluding current financial year revenue
items) was 191.24p.


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
END

NAVLKLFFZFBLBBF