Net Asset Value(s)

ISIS Smaller Companies Trust PLC
11 August 2005


NAV as at close of business on 10/08/05

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                                          317.23


Note: NAV is diluted, as appropriate.



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