Portfolio Update

F&C U.S. Smaller Companies PLC
02 July 2007


F&C US Smaller Companies PLC

Top ten holdings and all holdings over 5% of gross assets as at 29th June 2007:

Stock                                 % of gross assets      Market value
                                                                   £
                                                    
Baldor Electric                            3.3                2,412,236
Premiere Global Services                   2.8                2,064,731
Conns                                      2.8                2,045,541
Community Health Systems                   2.7                1,933,439
Acco Brands                                2.5                1,835,981
Pride International                        2.5                1,808,259
Dollar Thrifty Automotive                  2.5                1,786,998
Jarden                                     2.4                1,752,898
Debbury                                    2.4                1,736,736
Republic Services                          2.4                1,719,649
                                          26.3               19,096,468

Gross assets                                                 73,088,000





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