Portfolio Update

ISIS Smaller Companies Trust PLC
04 April 2006

To:                RNS

From:              ISIS Smaller Companies Trust plc

Date:              04-Apr-06



Listing Rule 15



In accordance with paragraph 15.4.11(2) of the Listing Rules ISIS Smaller
Companies Trust plc announces its top ten holdings, including all holdings with
a value greater than 5% of its gross assets, as at 31-Mar-06:




ISIS Smaller Companies Trust
Top 10 Holdings
Company                                            % Total Assets
Restaurant Group                                   5.2
Mouchel Parkman                                    4.6
Xaar                                               3.7
MTL Instruments                                    3.7
Hitachi Capital                                    3.4
Morgan Crucible                                    2.7
Victrex                                            2.7
Kewill Systems                                     2.2
Brewin Dolphin                                     2.2
Forth Ports                                        2.1
Holdings greater than 5% of total fund value
Restaurant Group                                   5.2





For further information please contact:



Gordon Hay Smith

F&C Asset Management plc

0131 465 1000


                      This information is provided by RNS
            The company news service from the London Stock Exchange