Monthly portfolio information

Foreign & Colonial U.S.Smllr.Co PLC
14 March 2002


FOREIGN & COLONIAL US SMALLER COMPANIES PLC

ALL DATA AS AT 28TH FEBRUARY 2002

THIS DATA WILL BE AVAILABLE ON THE F&C MANAGEMENT WEB-SITE, www.fandc.co.uk FROM
APPROXIMATLEY 15TH MARCH 2002

SECTOR ALLOCATION                                                    %

Cyclical Services                                                   36
Financials                                                          18
Non-Cyclical Consumer Goods                                          9
Resources                                                            8
General Industrials                                                  7
Non-Cyclical Services                                                6
Information Technology                                               6
Basic Industrials                                                    6
Cyclical Consumer Goods                                              4
                                                                  ----
Total                                                              100
                                                                  ====

TOP 10 HOLDINGS                                                      %

Harte Hanks                                                        4.6
Kirby Group                                                        4.6
Cousins Properties                                                 3.5
Iron Mountain                                                      3.1
Waddell & Reed Financial                                           2.8
Jones Lang Lasalle                                                 2.8
SCP Pool                                                           2.8
Price Communications                                               2.6
Monaco Coach                                                       2.5
Roper Industries                                                   2.3
                                                                 -----
Total                                                             31.6
                                                                 =====
EFFECTIVE GEARING                                                   0%



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