Month End Portfolio Info

F&C U.S. Smaller Companies PLC
17 October 2003


F&C US SMALLER COMPANIES PLC ALL DATA AS AT 30th September 2003 THIS DATA WILL
BE AVAILABLE ON THE F&C MANAGEMENT WEB-SITE, www.fandc.com FROM APPROXIMATLEY
18th October 2003

SECTOR ALLOCATION                                                           %
Autos And Transportation                                                    7.27
Consumer Discretionary                                                     27.60
Financial Services                                                         20.65
Health Care                                                                12.19
Materials And Processing                                                    8.65
Other                                                                       1.82
Other Energy                                                                6.20
Producer Durables                                                           8.27
Technology                                                                  5.65
Utilities                                                                   1.69
                                                                            ----
Total                                                                        100
                                                                            ====
TOP 10 HOLDINGS                                                              %
Kirby Corp.                                                                 4.20
SCP Pool Corp.                                                              3.59
Cousins Properties Inc.                                                     3.36
Fred's Inc.                                                                 2.93
BankUnited Financial Corp.                                                  2.51
Roper Industries Inc.                                                       2.28
Community Health Systems Inc.                                               2.21
Republic Services Inc.                                                      2.17
American Capital Strategies Ltd.                                            2.14
Symantec Corp.                                                              2.13
                                                                           -----
Total                                                                      27.52
                                                                           =====
EFFECTIVE GEARING                                                            -3%



                      This information is provided by RNS
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