Net Asset Value(s)

The net asset value of Edinburgh Small Companies Trust plc as at the close of business on 12 March 2003 are as follows: (For Edinburgh Fund Managers plc, Company Secretary) Undiluted nav (p): 46.81 Diluted nav (p): n/a Potential Gearing: 160.9 Actual Gearing: 119.3 ------------------------------------------------------------ This information was brought to you by Waymaker