Purchase of Own Securities

FOREIGN & COLONIAL US SMALLER COMPANIES PLC
27 September 1999

                   FOREIGN & COLONIAL US SMALLER COMPANIES PLC

Foreign & Colonial U.S. Smaller Companies PLC has today purchased for
cancellation, through Cazenove & Co, 1,700,000 ordinary shares in the market at
a price of 172p per share.

Following this purchase, the total number of ordinary shares in issue stands at
41,149,491.