Issue of Equity

Edinburgh Small Companies Trust PLC
16 October 2000

EDINBURGH SMALL COMPANIES TRUST PLC

EXERCISE OF WARRANTS

The Board of Edinburgh Small Companies Trust plc are pleased to announce the
issue of 57,695 ordinary shares at a price of 100p per share on 16 October
2000. The shares were allotted following the exercise of warrants (to
subscribe for ordinary shares) on 30 September 2000.

The listing of the shares on the London Stock Exchange was approved on 16
October 2000.

As a result of the issue there are now 69,601,685 ordinary shares in issue.

For Edinburgh Small Companies Trust plc

Edinburgh Fund Managers plc, SECRETARY

Valerie MacKenzie

Assistant Company Secretary