Net Asset Value(s)

Shires Smaller Companies PLC
08 August 2007







SHIRES SMALLER COMPANIES plc





The Net Asset Value (NAV) of Shires Smaller Companies plc as at close of
business on 07 August 2007 was 276.3p.



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 seven months to 31 July 2007.
The AIC recommends Investments be valued at bid price. The long term loan is
valued at book cost and the Zero Coupon Finance is valued at fair value.





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