Month End Portfolio Info

Foreign & Colonial U.S.Smllr.Co PLC
18 June 2002


FOREIGN & COLONIAL US SMALLER COMPANIES PLC

ALL DATA AS AT 31st May 2002

THIS DATA WILL BE AVAILABLE ON THE F&C MANAGEMENT WEB-SITE, www.fandc.co.uk FROM
APPROXIMATLEY 18TH June 2002

SECTOR ALLOCATION                                                    %

Cyclical Services                                                32.31
Financials                                                       18.22
Non-Cyclical Consumer Goods                                      10.72
Resources                                                         8.69
Information Technology                                            5.89
General Industrials                                               5.99
Basic Industrials                                                 6.09
Non-Cyclical Services                                             6.38
Cyclical Consumer Goods                                           5.73
                                                                  ----
Total                                                              100
                                                                  ====


TOP 10 HOLDINGS                                                      %

Harte Hanks                                                       4.30
Kirby Group                                                       3.89
Cousins Properties                                                3.42
SCP Pool                                                          3.06
Iron Mountain                                                     2.90
Jones Lang Lasalle                                                2.77
Price Communications                                              2.39
Republic Services Inc                                             2.25
Monaco Coach                                                      2.18
Sourcecorp                                                        2.16
                                                                 -----
Total                                                            29.30
                                                                 =====
EFFECTIVE GEARING                                                   0%



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