Net Asset Value(s)

ISIS Smaller Companies Trust PLC
24 November 2005


NAV's as at close of business on 23/11/05

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

(Pence per share)

ISIS Smaller Companies Trust plc                                        322.18




Note: NAVs are diluted, where appropriate.




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