Net Asset Value(s)

RNS Number : 8546C

Standard Life UK Small.Co's Tst PLC

05 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 4 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	134.29
Ordinary Shares (p) (diluted)	Excluding Income	131.45
Ordinary Shares (p)	Including Income	136.51
Ordinary Shares (p) (diluted)	Including Income	133.48