Month End Portfolio Info

F&C Smaller Companies PLC
15 May 2003

F&C SMALLER COMPANIES PLC

ALL DATA AS AT 30th April 2003

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

GEOGRAPHICAL ASSET ALLOCATION                        %
UK                                                  41
USA                                                 24
Cont. Europe                                        11
Cash & Fixed Interest                               10
Japan                                                8
Far East                                             6
                                                  ----
Total                                              100
                                                  ====
TOP 10 HOLDINGS                                      %
Kirby Corp                                        1.18
CLS Holdings                                      1.13
Cairn Energy                                      1.07
Graphite Enterprise Tst                           1.07
Cousins Properties                                1.05
American Capital Strategies                       0.96
SCP Pool Corp                                     0.96
Special Utilities                                 0.82
Brit Insurance                                    0.81
SIG                                               0.75
                                                 -----
Total                                             9.80
                                                 =====
EFFECTIVE GEARING                                   5%


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