AGM Statement

North Atlantic Smlr Co Inv Tst PLC
07 July 2006



North Atlantic Smaller Companies Investment Trust PLC

The Company announces that at the Annual General Meeting of the Company held
today (7 July 2006) all of the resolutions, as set out in full in the Notice of
Meeting dated 24 May 2006, were duly passed as follows:

                                            Votes for      Votes against     Votes withheld              Votes
                                                                                                 discretionary

Resolution 1                                6,006,424              6,120                  0                  0
Resolution 2                                5,859,583              3,870            149,091                  0
Resolution 3                                6,011,544                  0                600                400
Resolution 4                                5,997,640             14,004                500                400
Resolution 5                                6,011,544                  0                600                400
Resolution 6                                6,012,450                 94                  0                  0
Resolution 7                                6,008,750              2,943                851                  0
Resolution 8                                6,008,750              2,943                851                  0


At the Annual General Meeting, the Chief Executive advised the shareholders
present of the current status of the portfolio and indicated that the recent
flotation of Nationwide Accident Repair Services PLC meant that the value of the
cash and shares owned by the Company had risen to £14.3 million, indicating an
increase in valuation of £11 million in the four year period since the original
investment.

The Chief Executive stated that a bid had been received and rejected for Mister
Carwash.  If the bid had been accepted, approximately £3 million would have been
added to the value of the Company.  Finally, the Chief Executive informed
shareholders that new investments had been made in BPE Holdings Limited and
Inspired Gaming Group Plc.

The fully diluted Net Asset Value at 30 April 2006 was 1121p, an increase from
1063p as at 31 January 2006.


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