Net Asset Value(s)

Scottish Oriental Smlr Co Tst PLC
06 July 2007


THE SCOTTISH ORIENTAL SMALLER COMPANIES TRUST PLC
First State Investment Management (UK) Limited, managers of The Scottish
Oriental Smaller Companies Trust PLC ('Scottish Oriental') announce that the
unaudited Net Asset Value of Scottish Oriental Ordinary Shares as at 5th July
2007 was 360.71p. This figure does not include any income retention for the year
to-date. This figure does not include any provision for capital gains tax on net
unrealised gains on holdings of Indian securities.



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