Net Asset Value(s)

ISIS Smaller Companies Trust PLC
22 March 2006



NAV's as at close of business on 21/03/06

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                                          361.91




Note: NAV is diluted, where appropriate.




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