Directorate Change

F&C Smaller Companies PLC
24 September 2004

F&C Smaller Companies PLC

The Board announces that Mr Gerry Grimstone will become Chairman of F&C Smaller
Companies plc (the 'Company') with effect from 1 October 2004. This follows the
decision of Mr John Curry, for personal reasons, to step down as Chairman and
Director from 30 September 2004.

Gerry Grimstone, who has been on the Board for two years and was previously Vice
Chairman of Schroders Investment Bank, said 'John has served as a Director for
over 8 years. In that time he has made a tremendous contribution to the Company
and the Board would like to thank him for his wise counsel.'

The Company also announces the appointment of Mr Anthony Townsend as a
non-executive director of the Company with effect from 24 September 2004. Mr
Townsend is currently a Director of the Association of Investment Trusts, having
served as Chairman between 2001 and 2003.

A statement under paragraph 16.4 of the Listing Rules of the UK Listing
Authority will be made in respect of Mr Townsend's appointment in due course.



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