Net Asset Value(s)

The net asset value of Dunedin Smaller Companies Investment Trust plc as at the close of business on 18 July 2002 are as follows: Dunedin Smaller Companies Investment Trust plc Undiluted nav (p): 412.33 Potential Gearing: 122.0 Actual Gearing: 113.6 For Edinburgh Fund Managers plc David Holland Company Secretary ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/07/19/20020719BIT00350/wkr0001.doc http://www.waymaker.net/bitonline/2002/07/19/20020719BIT00350/wkr0002.pdf