Month End Portfolio Info

F&C Smaller Companies PLC
17 February 2003

F&C SMALLER COMPANIES PLC

ALL DATA AS AT 31st January 2003

THIS DATA WILL BE AVAILABLE ON THE F&C MANAGEMENT WEB-SITE, www.fandc.com FROM
APPROXIMATELY 18th February 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                                                  1.27
Brit Insurance Holdings                                       1.17
CLS Holdings Plc                                              1.14
Cousins Properties                                            1.09
Graphite Enterprise Tst                                       1.07
Crest Nicholson                                               0.99
American Capital Strategies                                   0.92
Kirby Corp                                                    0.91
Forth Ports Authority                                         0.85
Tesco Plc                                                     0.85
                                                              ----
Total                                                        10.26
                                                              ====

EFFECTIVE GEARING                                               6%


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