Portfolio Update

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




F&C US Smaller Companies PLC

Top ten holdings and all holdings over 5% of gross assets as at 31 March 2007:


Stock                                                  % of gross assets

Dollar Thrifty Automotive                                            3.0
Baldor Electric                                                      2.8
Acco Brands                                                          2.7
Premiere Global Services                                             2.6
Hub                                                                  2.6
Cousins Properties                                                   2.5
Community Health Systems                                             2.4
Jarden                                                               2.3
Republic Services                                                    2.3
Conns                                                                2.2




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