RNS Number:4907O
Smaller Companies Inv Trust PLC
08 August 2003

The Smaller Companies Investment Trust PLC

8 August 2003


The Directors announce that the resolutions to approve the winding-up of The
Smaller Companies Investment Trust PLC (the "Company") and to appoint the
Liquidators to implement the scheme of reconstruction of the Company (the
"Scheme"), as set out in the Circular to Shareholders dated 7 July 2003, were
duly passed at this morning's extraordinary general meeting. Accordingly the
Scheme has become effective.


It is expected that units in Aberdeen UK Emerging Companies Unit Trust will be
issued to the relevant shareholders by close of business on 11 August 2003 and
that shares in The Value Catalyst Fund Limited will be allotted on 11 August
2003 and available for trading on 12 August 2003. It is expected that cheques in
respect of cash distributions under the immediate cash option will be posted to
the relevant shareholders by 15 August 2003.


A further announcement will be made by 12 August 2003, setting out shareholders'
final entitlements in accordance with the terms of the Scheme, once the
Liquidation Fund has been established which provides inter alia for repayment of
the Equity Linked Unsecured Loan Stock and costs of the Scheme.






Enquiries:



William Hemmings                          020 7463 6000

Aberdeen Asset Managers

Robert Hoskin                             020 7463 6000

Aberdeen Asset Management

David Benda                               020 7621 5562

Close Brothers Securities



Close Brothers Securities (a division of Winterflood Securities Limited), which
is regulated by the Financial Services Authority, is acting for the Company and
for no-one else in connection with the contents of this announcement and will
not be responsible to anyone other than The Smaller Companies Investment Trust
PLC for providing the protections afforded to customers of Close Brothers
Securities, or for affording advice in relation to the contents of this
announcement or any matters referred to herein.



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