Net Asset Value(s)

Merrill Lynch Br. SmallerCo Tst PLC
22 February 2005



NET ASSET VALUE

MERRILL LYNCH BRITISH SMALLER COMPANIES TRUST plc

The unaudited net asset value for Merrill Lynch British Smaller Companies Trust 
plc at close of business on 21 February 2005 was:

280.64p (excluding income and including debt at par value)

275.52p (excluding income and including debt at fair value)



                      This information is provided by RNS
            The company news service from the London Stock Exchange
     
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