Directorate Change

Ivory & Sime UK Smlr.Co's Trust PLC
22 June 2004


Ivory & Sime UK Smaller Companies Trust plc


To: RNS

From: Ivory & Sime UK Smaller Companies Trust plc

Date: 22 June 2004

Subject: Directorate Changes


The Board of Directors of Ivory & Sime UK Smaller Companies Trust plc announces
that, at the conclusion of the Company's Annual General Meeting held today, Mr
Michael Walker retired as Chairman and a Director. He had served on the Board
since 1990 and as Chairman since 1992. He is succeeded as Chairman by Mr Andrew
Irvine.

The Board also announces that Mr Alex Hammond - Chambers (aged 61) has, with
immediate effect, been appointment a non-executor Director of the Company. He is
Chairman of the Association of Investment Trust Companies, Fidelity Special
Values plc, Fidelity Japanese Values plc, American Opportunity Trust plc, Aurora
Investment Trust plc and Dobbies Garden Centres plc, and a director of
International Biotechnology Trust plc and Hansa Trust plc. There are no details
requiring to be disclosed under paragraphs 6.F.2(b) to (g) of the Listing Rules.


                      This information is provided by RNS
            The company news service from the London Stock Exchange