Warrant Exercise

Scottish Oriental Smlr Co Tst PLC
06 February 2007


                THE SCOTTISH ORIENTAL SMALLER COMPANIES TRUST PLC
                                        
                                Warrant Exercise

First State Investment Management (UK) Limited, Secretary to The Scottish
Oriental Smaller Companies Trust Plc, announces that the Company has received
notice from The Law Debenture Trust Corporation plc that it wishes to exercise
the 157,491 outstanding warrants. Therefore the Company has issued and allotted
a further 157,491 ordinary shares arising from the exercise of warrants at the
subscription price of 100p per share.

Following the allotment of these shares, the Company's issued share capital has
increased to 30,213,650 ordinary shares of 25p each.

Application will be made to the UK Listing Authority and the London Stock
Exchange for the admission to the Official List and to trading of the ordinary
shares of 10p each arising on exercise of the warrants.

Enquiries:

Gillian Davies

First State Investment Management (UK) Limited

Tel: [phone]



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