Net Asset Value(s)

RNS Number : 6620D

Standard Life UK Small.Co's Tst PLC

17 September 2008

STANDARD LIFE UK SMALLER COMPANIES TRUST PLC

Standard Life UK Smaller Companies Trust plc announces the following unaudited net asset values (NAVs) as at close of business on 16 September 2008. Unless otherwise disclosed, the NAVs have been calculated in accordance with the recommendations of the Association of Investment Companies. In particular: (1) financial assets have been valued on a fair value basis using bid prices, or, if more appropriate, a last trade basis; (2) debt is valued at par and, where materially different, debt is also separately valued at market value; and (3) diluted NAVs are disclosed where applicable (for this purpose, treasury shares are excluded for the purposes of calculation).

Ordinary Shares (p)	Excluding Income	125.23
Ordinary Shares (p) (diluted)	Excluding Income	123.14
Ordinary Shares (p)	Including Income	125.69
Ordinary Shares (p) (diluted)	Including Income	123.56