Transaction in Own Shares

ISIS Smaller Companies Trust PLC
23 January 2006

          
To:       RNS
From:     ISIS Smaller Companies Trust plc
Date:     23 January 2006


Purchase of Own Securities

On 20 January 2006 ISIS Smaller Companies Trust plc bought 50,000 of its own
Ordinary Shares of 50p for cancellation at a price of 295p each.  There are
17,448,260 shares in issue following this repurchase.

Gordon R Hay Smith
Company Secretary

Enquiries:        0131 465 1000


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