Month End Portfolio Info

F&C U.S. Smaller Companies PLC
16 January 2003



F&C US SMALLER COMPANIES PLC

ALL DATA AS AT 31st December 2002

THIS DATA WILL BE AVAILABLE ON THE F&C MANAGEMENT WEB-SITE, www.fandc.co.uk FROM
APPROXIMATLEY 18th January 2003
                                                                                                    %
SECTOR ALLOCATION

Autos And Transportation                                                                         8.10

Consumer Discretionary                                                                          30.30

Financial Services                                                                              20.58

Health Care                                                                                     11.50

Materials And Processing                                                                         8.27

Other                                                                                            1.74

Other Energy                                                                                     6.49

Producer Durables                                                                                5.83

Technology                                                                                       4.05

Utilities                                                                                        3.12

                                                                                                 ----
Total                                                                                             100
                                                                                                 ====

TOP 10 HOLDINGS                                                                                     %

Kirby Corp.                                                                                      4.90

Cousins Properties Inc.                                                                          3.65

Iron Mountain Inc.                                                                               3.45

SCP Pool Corp.                                                                                   3.38

Harte-Hanks Inc.                                                                                 3.10

Republic Services Inc.                                                                           2.46

Pride International Inc.                                                                         2.45

BankUnited Financial Corp.                                                                       2.34

American Capital Strategies Ltd.                                                                 2.27

Monaco Coach Corp.                                                                               2.26

                                                                                                -----
Total                                                                                           30.25
                                                                                                =====

EFFECTIVE GEARING                                                                                  0%



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