Net Asset Value(s)

Shires Smaller Companies PLC
15 November 2006






SHIRES SMALLER COMPANIES plc



The Net Asset Value (NAV) of Shires Smaller Companies plc as at close of
business on 14 November 2006 was 276.6p.


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 ten months to 31 October 2006.
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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