Month End Portfolio Info

F&C Smaller Companies PLC
16 January 2003

F&C SMALLER COMPANIES PLC

ALL DATA AS AT 31st December 2002

THIS DATA WILL BE AVAILABLE ON THE F&C MANAGEMENT WEB-SITE, www.fandc.co.uk FROM
APPROXIMATELY 18th January 2003

GEOGRAPHICAL ASSET ALLOCATION                                        %

UK                                                                  41

USA                                                                 24

Europe                                                              11

Japan                                                                8

Far East                                                             6

Cash & Fixed Interest                                               10
                                                                  ----
Total                                                              100
                                                                  ====

TOP 10 HOLDINGS                                                      %

Cairn Energy                                                      1.38

CLS Holdings                                                      1.17

T&S Stores                                                        1.10

Brit Insurance Holdings                                           1.09

Cousins Properties                                                1.08

Harte-Hanks                                                       1.05

Graphite Enterprise Tst                                           1.01

Kirby Corp                                                        0.95

SCP Pool Corp                                                     0.90

Crest Nicholson                                                   0.88

                                                                  ----
Total                                                            10.16
                                                                  ====

EFFECTIVE GEARING                                                   5%


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