Net Asset Value(s)

The net asset value of Dunedin Smaller Companies Investment Trust plc as at the close of business on 31 March 2003 are as follows: The net asset value after deducting debt at market value is 304.60p (For Edinburgh Fund Managers plc, Company Secretary) Undiluted nav (p): 321.71 Potential Gearing: 128.2 Actual Gearing: 96.4 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/01/20030401BIT00750/wkr0001.doc http://www.waymaker.net/bitonline/2003/04/01/20030401BIT00750/wkr0002.pdf