Portfolio Update

North Atlantic Smlr Co Inv Tst PLC
01 May 2007



     North Atlantic Smaller Companies Investment Trust plc (the 'Company')



In compliance with paragraph 15.4.11 (1) of the Listing Rules of the UK Listing
Authority, we hereby give notice that as at 30 April 2007, the Company's ten
largest investments which includes those with a value greater than 5% of the
Company's gross assets, are:


       Name of Investee Company                            Class of share


  1    Oryx International Growth                           Ordinary
  2    W-H Energy                                          Common
  3    Nationwide Accident Repair                          Ordinary
  4    US Treasury Bill 24/05/2007                         Treasury Stock
  5    DM Technical Services Limited                       Ordinary
  6    Gleeson (MJ) Group                                  Ordinary
  7    Georgica                                            Ordinary
  8    Inspired Gaming Group                               Ordinary
  9    US Treasury Bill 03/05/2007                         Treasury Stock
  10   Hampton Trust                                       Ordinary/Loan Stock






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