Net Asset Value(s)

3i Smaller Quoted Co's Trust PLC
26 January 2005



NET ASSET VALUE

3i SMALLER QUOTED COMPANIES TRUST plc

The unaudited net asset values for 3i Smaller Quoted Companies Trust plc at 
close of business on 25 January 2005 (excluding income) were:

266.48p (excluding income and including debt at par value)

261.17p (excluding income and including debt at fair value)




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