Net Asset Value(s)

Shires Smaller Companies PLC
07 February 2007






SHIRES SMALLER COMPANIES plc



The Net Asset Value (NAV) of Shires Smaller Companies plc as at close of
business on 6 February 2007 was 297.5p.


This NAV has been prepared on the basis of guidance issued by the Association of
Investment Companies (AIC). It includes the net income after expenses and a
pro-rata accrual for dividends in respect of the one month to 31 January 2007.
The AIC 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
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