Month End Portfolio Info

F&C U.S. Smaller Companies PLC
18 October 2004


F&C US Smaller Companies PLC

ALL DATA AS AT 30th September 2004

THIS DATA WILL BE AVAILABLE ON THE F&C MANAGEMENT WEB-SITE, www.fandc.com FROM
APPROXIMATELY 18th October 2004


Sector Allocation                                                             %
Autos And Transportation                                                   3.45
Consumer Discretionary                                                    27.91
Financial Services                                                        23.27
Health Care                                                               12.27
Materials And Processing                                                   7.37
Other Energy                                                               7.77
Producer Durables                                                          7.78
Technology                                                                 8.75
Utilities                                                                  1.43

Total                                                                       100


Top Ten Holdings                                                              %

Freds Inc                                                                  2.80
Cousins Properties                                                         2.74
Bankunited Financial                                                       2.64
Republic Services                                                          2.36
Community Health Systems                                                   2.25
Pride International                                                        2.08
Kirby                                                                      2.08
Harvest Natural Resources                                                  1.89
Roper Industries                                                           1.85
Renal Care Group                                                           1.84

Effective Gearing                                                           -3%




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