Net Asset Value(s)

Invesco Asset Management Limited                        

HEADLINE: Net Asset Values

It is announced that at the close of business on 5 July 2011 the unaudited net
asset values per share (AIC basis) of the following investment trust companies
managed by Invesco Asset Management Limited are:-

Company                           NAVs with Debt at Par & Fair              
                                              Value                         
                                                                            
                                 Undiluted   Diluted   Undiluted   Diluted  
                                                                            
                                  Capital    Capital  Cum Income  Cum Income
                                                                            
                                  (pence)    (pence)    (pence)    (pence)  
                                                                            
                                                                           
Invesco Perpetual     Note 1      256.12                258.60              
UK Smaller                                                                  
Companies Trust                                                             
plc                                                                         
                                                                            
                      Note 2                                                
                                                                            

The above NAVs have been calculated using the fair value prices for the
underlying investments.

Notes:

1 For these Companies the fair value of debt is not materially different from
the carrying value.

2 The NAV above includes a provision for performance fee, where applicable.

6 July 2011

Invesco Asset Management Ltd

020 7065 4000