Net Asset Value(s)

ISIS Smaller Companies Trust PLC
02 February 2006


NAV's as at close of business on 01/02/06

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

(Pence per share).  Investments valued on a bid price basis.

ISIS Smaller Companies Trust plc                                         351.47



Note: NAVs are diluted, where appropriate.



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