Net Asset Value(s)

Scottish Oriental Smlr Co Tst PLC
07 November 2006


THE SCOTTISH ORIENTAL SMALLER COMPANIES TRUST PLC
First State Investment Management (UK) Limited, the 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 31st
October 2006 was 264.91p (assuming full conversion of all outstanding warrants).
This equates to an undiluted figure of 289.91p. Neither of these figures include
any income retention for the year to-date.
The fully-diluted and undiluted NAVs calculated to include an estimate of income
net of expenses retained for the year to-date were 270.09p and 295.88p
respectively. These latter NAVs are now given on a monthly basis to the AITC.



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