Net Asset Value(s)

Shires Smaller Companies PLC
09 May 2007







SHIRES SMALLER COMPANIES plc





The Net Asset Value (NAV) of Shires Smaller Companies plc as at close of
business on 8 May 2007 was 309.5p.



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 four months to 30 April 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
            The company news service from the London Stock Exchange