Net Asset Value(s)

RNS Number : 9470D

Standard Life UK Small.Co's Tst PLC

30 March 2011

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 29th March 2011. 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	213.41p
Ordinary Shares with debt at Fair Value (pence)	Excluding Income	211.06p
Ordinary Shares (pence)	Including Income	215.70p
Ordinary Shares with debt at Fair Value (pence)	Including Income	213.35p