Net Asset Value(s)

The net asset value of Dunedin Smaller Companies Investment Trust plc as at the close of business on 4 April 2003 are as follows: (For Edinburgh Fund Managers plc, Company Secretary) Undiluted nav (p): 323.35 Potential Gearing: 128.0 Actual Gearing: 93.8 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/07/20030407BIT00520/wkr0001.doc http://www.waymaker.net/bitonline/2003/04/07/20030407BIT00520/wkr0002.pdf