Portfolio Update

F&C U.S. Smaller Companies PLC
03 January 2007




F&C US Smaller Companies PLC

Top ten holdings and all holdings over 5% of gross assets as at 31 December 
2006:


Stock                                                  % of gross assets

Dollar Thrifty Automotive                              2.7
Cousins Properties                                     2.7
Community Health Systems                               2.5
Republic Services                                      2.3
Premiere Global Services                               2.2
Jarden                                                 2.1
CapitalSource                                          2.1
Lithia Motors                                          2.0
Roper Industries                                       2.0
Hub                                                    2.0





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