Directorate Change

North Atlantic Smlr Co Inv Tst PLC
10 December 2002


The Board today (10 December 2002) announces that Mr Charles Irby has been
appointed to the Board of North Atlantic Smaller Companies Investment Trust plc.


Mr Irby, aged 57, is Chairman of Aberdeen Asset Management plc, a non-executive
director of EC Harris and of QBE Insurance Group Limited.


Mr Irby was Head of Corporate Finance of ING Barings from 1992 to 1999, and a
Managing Director from 1995-1999.  During 25 years with Barings, Mr Irby
specialised in corporate finance, advising companies on hostile and recommended
take-over offers, defences, mergers, joint ventures, mandated sales, financial
restructuring and flotations.  He was a Member of the Panel on Takeovers and
Mergers from 1997 - 1998.


The Board consider that his expertise and experience will be most beneficial to
the Company.


Mr Irby confirms that he is not a director of any other publicly quoted company
other than those previously mentioned and that there is no relevant information
to disclose under paragraph 6.F.2 of The Listing Rules, in relation to his
appointment.



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