Net Asset Value(s)

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The net asset value of Dunedin Smaller Companies Investment Trust plc as at the close of business on 3 January 2003 are as follows: (For Edinburgh Fund Managers plc, Company Secretary) Undiluted nav (p): 346.53 Potential Gearing: 126.2 Actual Gearing: 94.3 ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: