Announcement Regarding the Future of the Company

Invesco Perpetual UK Smaller Companies Investment Trust plc          

Announcement Regarding the Future of the Company

The Board of Invesco Perpetual UK Smaller Companies plc today announces that
the Company intends to offer shareholders a choice of options at a fixed date
in the future.

On or around the Company's AGM in 2017, the Board will make available options
for shareholders which may include one or more of a continuation of their
existing investment, a rollover into a similar or other investment vehicle and/
or the provision of a cash exit at a price close to NAV. This commitment will
be reflected in amendments to the Company's Articles, shareholders' agreement
to which will be sought at the Company's 2013 AGM, together with consent to
other changes that will allow it, for example, to take advantage of recent tax
legislation changes for investment trusts that became effective from 6th April
2012.

The Managers recognise that investment sectors go in and out of fashion and
they are, therefore, supportive of this initiative by the Board. However they
wish to assure shareholders that they will continue to use their very best
endeavours to achieve above-average performance from a well-diversified
portfolio of quality smaller companies and thereby earn the right from
shareholders for a continuation of this Trust.

One of the benefits the Board hopes to achieve, in time, by this initiative is
a permanent narrowing in the discount to NAV at which the shares trade. The
Board will retain the right to buy back shares on an ad hoc basis.

Contacts:

Invesco Perpetual: Andrew Watkins 020 7065 4023

JPM Cazenove: William Simmonds 020 7155 4579

25 May 2012