Issue of Equity

Scottish Oriental Smlr Co Tst PLC
03 February 2005


THE SCOTTISH ORIENTAL SMALLER COMPANIES TRUST PLC

First State Investment Management (UK) Limited, Secretary to Scottish Oriental
Smaller Companies Trust Plc, announce that 6,100 new Ordinary shares of 25p each
were allotted on 3rd February 2005 as a result of the exercise of 6,100 of the
Scottish Oriental Smaller Companies Trust Plc warrants. The total issued capital
has therefore increased to 25,488,602 Ordinary shares and the warrants in issue
have reduced to 4,725,048.

Dealings in the 6,100 new shares are expected to commence on 10th February 2005.




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