Portfolio Update

Standard Life UK Small.Co's Tst PLC
03 January 2008

                  STANDARD LIFE UK SMALLER COMPANIES TRUST PLC
                             10 LARGEST INVESTMENTS





The company announces that the ten largest investments as at close of business
on 31 December 2007 were as follows:






Assets With Values Over 5% of Gross Assets                                  Market Value       %Ttl Gross
                                                                                                   Assets
NONE


Top 10 Portfolio Assets

ASOS PLC ORD GBP0.035                                                          1,970,134             4.15
CHLORIDE GROUP ORD GBP0.25                                                     1,824,610             3.84
AVEVA GROUP PLC ORD 0.0333                                                     1,701,365             3.58
GENUS ORD GBP0.10                                                              1,445,969             3.05
EXPRO INTERNATIONAL GROUP ORD GBP0.10                                          1,436,221             3.03
JKX OIL & GAS ORD GBP0.10                                                      1,382,180             2.91
PADDY POWER EUR0.1(POST CURR REORG)                                            1,295,222             2.73
TRADUS ORD GBP0.05                                                             1,259,403             2.65
CONNAUGHT ORD GBP0.02                                                          1,239,480             2.61
PAYPOINT ORD GBP0.33                                                           1,236,338             2.60



END


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