Net Asset Value(s)

The net asset value of Dunedin Smaller Companies Investment Trust plc as at the close of business on 18 March 2003 are as follows: (For Edinburgh Fund Managers plc, Company Secretary) Undiluted nav (p): 322.19 Potential Gearing: 128.1 Actual Gearing: 98.0 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/03/19/20030319BIT00570/wkr0001.doc http://www.waymaker.net/bitonline/2003/03/19/20030319BIT00570/wkr0002.pdf

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