Net Asset Value(s)

RNS Number : 5219N

Standard Life UK Small.Co's Tst PLC

18 February 2009

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 17 February 2009. 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 (pence)	Excluding Income	99.32p
Ordinary Shares (pence)	Including Income	99.73p
Continuation (C) Shares (pence)	Excluding Income	98.92p
Continuation (C) Shares (pence)	Including Income	98.93p