Net Asset Value(s)

ISIS Smaller Companies Trust PLC
13 December 2005


NAV as at close of business on 12/12/05

F & C Asset Management plc Investment Trusts announces the unaudited Net Asset
Value for the following Investment Trust.

                                                         (Pence per share)


ISIS Smaller Companies Trust plc                                    330.57

Note: NAV is diluted, where appropriate.



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