Month End Portfolio Info

F&C Smaller Companies PLC
14 July 2004

F&C SMALLER COMPANIES PLC

ALL DATA AS AT 30th June 2004

THIS DATA WILL BE AVAILABLE ON THE F&C MANAGEMENT WEB-SITE, www.fandc.com FROM
APPROXIMATELY 18th July 2004

Geographic Asset Allocation              %

UK                                       44

USA                                      24

Japan                                    11

Europe                                    8

Far East                                  7

Cash & F.I.                               6
                                    
Total                                   100

TOP 10 HOLDINGS                                                                        %

Cairn Energy                                                                        1.98

Topps Tiles                                                                         1.02

Infratil Ltd                                                                        0.97

CLS                                                                                 0.85

Graphite Enterprise Tst                                                             0.82

Sondex                                                                              0.82

Cousins Properties Inc                                                              0.81

Linmark Group                                                                       0.81

Kirby Corp                                                                          0.81

SCP Pool                                                                            0.77
                                                                                   -----
Total                                                                               9.66
                                                                                   =====
EFFECTIVE GEARING                                                                     4%




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