Net Asset Value(s)

The net asset value of Dunedin Smaller Companies Investment Trust plc as at the close of business on 31 October 2002 are as follows: (For Edinburgh Fund Managers plc, Company Secretary) The net asset value after deducting debt at market value is 326.43p. Undiluted nav (p): 347.96 Potential Gearing: 126.0 Actual Gearing: 97.8 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/11/01/20021101BIT00180/wkr0001.doc http://www.waymaker.net/bitonline/2002/11/01/20021101BIT00180/wkr0002.pdf