Net Asset Value(s)

Scottish Oriental Smlr Co Tst PLC
17 November 2006


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 16th
November 2006 was 279.27p (assuming full conversion of all outstanding
warrants). This equates to an undiluted figure of 306.45p. Neither of these
figures include any income retention for the year to-date. These figures do not
include any provision for capital gains tax on net unrealised gains on holdings
of Indian securities.



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