Net Asset Value(s)

The net asset value of Dunedin Smaller Companies Investment Trust plc as at the close of business on 17 March 2003 are as follows: (For Edinburgh Fund Managers plc, Company Secretary) Undiluted nav (p): 318.82 Potential Gearing: 128.4 Actual Gearing: 96.7 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/03/18/20030318BIT00410/wkr0001.doc http://www.waymaker.net/bitonline/2003/03/18/20030318BIT00410/wkr0002.pdf

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