Share Buy-Back

Perpetual UK Smaller Co's IT PLC
4 April 2002


                  Perpetual UK Smaller Companies Investment Trust


HEADLINE:                Share Buy-Back


The Company purchased for cancellation 70,000 ordinary shares of 100p each at a
price of 459p per share on Thursday, 4 April 2002.  The number of Ordinary
Shares in issue after cancellation of the shares acquired will be 13,933,206.


INVESCO Asset Management Limited
- Secretaries

4 April 2002


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