Net Asset Value(s)
ABERFORTH SMALLER COMPANIES TRUST plc ("ASCoT") The Net Asset Values ("NAVs") per Ordinary Share at the close of business on 19 November 2003 for the above company were:- NAV - Excluding Current Year Revenue 429.50p NAV - Including ALL Revenue 435.75p As at 19 November 2003, ASCoT held 109 investments, the largest of which represented 3.2% of investable assets. The market value of investments was £416.7m and total Shareholders' Funds were £430.6m. Details of the top 50 holdings, the portfolio's sectoral composition and other general information can be found within Aberforth Partners'