Purchase of Own Securities

Foreign & Colonial U.S.Smllr.Co PLC
3 November 1999




                 FOREIGN & COLONIAL U.S SMALLER COMPANIES PLC

Foreign & Colonial U.S Smaller Companies PLC had today purchased for
cancellation, through Cazenove & Co:-

     4,650,00 ordinary shares in the market at a price of 178p per share.
        
     1,760,000 warrants to subscribe for ordinary shares at a price of 
     93p per warrant.

Following these purchases, the total numbers of ordinary shares and warrants in
issue are:-

    Ordinary shares           35,999,491
    Warrants                   4,388,876