Revolving Credit Facility,etc

IVORY & SIME UK SMALLER COMPANIES TRUST PLC
5 August 1999


Loan facility

Ivory & Sime UK Smaller Companies Trust announces that it has arranged a five
year term facility of £7 million and a revolving credit facility of £5 million
from Bank Scotland.  The term loan was drawn on 4 August 1999 and £6 million
of this sum utilised in repaying an existing fixed loan on maturity.  The
revolving credit facility will be used for investment purposes at the
discretion of the Managers.  

Contact:   Stephen Grant / Keith Hannay
Friends Ivory & Sime plc, Managers                          0131 465 1000