Net Asset Value(s)

Shires Smaller Companies PLC
08 September 2006






                           SHIRES SMALLER COMPANIES plc



The Net Asset Value (NAV) of Shires Smaller Companies plc as at close of
business on 7 September 2006 was 256.2p.


This NAV has been prepared on the basis of guidance issued by the Association of
Investment Trust Companies (AITC). The AITC recommends Investments be valued at
bid price.



Shires Smaller Companies plc, an investment trust, is managed by Glasgow
Investment Managers Limited.



                      This information is provided by RNS
            The company news service from the London Stock Exchange