Transaction in Own Shares

F&C U.S. Smaller Companies PLC
31 August 2006


                          F&C US SMALLER COMPANIES PLC

                             PURCHASE OF OWN SHARES




1) Date of purchase:

31 August 2006

2) Number of Ordinary Shares purchased:

673,015

3) Highest and lowest price paid per share (excluding expenses):

266p

4) The issued share capital of the Company following this buy-back will be:

Ordinary Shares - 22,940,254

5) Name and telephone number of contact for queries:

Mr R.G.Short
Tel: [phone]

6) Name of authorised Company official responsible for this notification:

Mr R.G.Short
For and on behalf of F&C Management Limited, Secretary

7) Date of notification

31 August 2006



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