Circular to Shareholders

ISIS Smaller Companies Trust PLC
01 August 2005


To:                   RNS

From:                 ISIS Smaller Companies Trust plc

Date:                 1 August 2005



ISIS Smaller Companies Trust plc (the 'Company') announces that it has today
published and sent to shareholders a circular convening an extraordinary general
meeting of the Company on Wednesday, 17 August 2005 at 12.30pm.  The purpose of
the meeting is to ask shareholders to approve the waiver by the Panel on
Takeovers and Mergers, pursuant to Rule 37.1 of The City Code on Takeovers and
Mergers (the 'Code'), of any obligation which might otherwise fall on F&C Asset
Management plc and any of the persons deemed to be acting in concert with it,
collectively or individually, to make a general offer pursuant to Rule 9 of the
Code as a result of the purchase by the Company of Ordinary Shares of 50p each
in the Company in the market pursuant to the authority granted by special
resolution passed at the annual general meeting of the Company held on 21 June
2005.  Further details are available in the circular which has been sent to and
is available for inspection at the Document Viewing Facility at the Financial
Services Authority, 25 North Colonnade, Canary Wharf, London E14, 5HS.  Copies
of the circular are available from F&C Asset Management plc at 80 George Street,
Edinburgh EH2 3BU and Exchange House, Primrose Street, London EC2A 2NY.


Gordon R Hay Smith

Company Secretary


Enquiries:        0131 465 1000


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