Net Asset Value(s)

The net asset value of Dunedin Smaller Companies Investment Trust plc as at the close of business on 28 February 2003 are as follows: The net assets value after deducting debt at market value is 309.61p (For Edinburgh Fund Managers plc, Company Secretary) Undiluted nav (p): 328.08 Potential Gearing: 127.6 Actual Gearing: 94.5 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/03/03/20030303BIT00340/wkr0001.doc http://www.waymaker.net/bitonline/2003/03/03/20030303BIT00340/wkr0002.pdf

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