Result of EGM

FOREIGN & COLONIAL U.S. SMALLER COMPANIES PLC
12 July 1999


Foreign & Colonial U.S. Smaller Companies PLC (the 'Company')

The  Board  of  Foreign & Colonial U.S. Smaller Companies  PLC
announces  that  at the extraordinary general meeting  of  the
holders  of  ordinary  shares and the meeting  of  holders  of
warrants  held  today, the resolutions put  to  the  meetings,
seeking  the authority for the Company to purchase up to  14.9
per   cent.  of  its  own  ordinary  shares  and  making   the
consequential amendments to the Articles of Association,  were
duly passed.

The  Board  confirms that it intends to enhance the  value  of
shareholders'  and  warrant holders' investments  through  pro-
active  share  buy-backs.   The buy  back  will  be  conducted
actively through Cazenove & Co., brokers to the Company,  with
the  aim of reducing the discount to net asset value at  which
the shares trade and enhancing the net asset value per share.

The  Board  has resolved that the objective of the active  buy
back will be to progressively close the discount, initially at
least  within  single  figures. The Board  will  seek  further
authority to buy back shares when required.

The  net asset value per share as at the close of business  on
9th July, 1999 was 218.52p.

Enquiries:

Jeremy Tigue,
Foreign & Colonial Management Limited    0171 628 8000

Angus Gordon Lennox,
Cazenove & Co.                           0171 588 2828