Net Asset Value(s)

The net asset value of Edinburgh Small Companies Trust plc as at the close of business on 31 December 2002 are as follows: (For Edinburgh Fund Managers plc, Company Secretary) The net asset value after deducting debt at market value is 49.87p Undiluted nav (p): 54.66 Diluted nav (p): n/a Potential Gearing: 152.1 Actual Gearing: 119.6 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/01/02/20030102BIT00260/wkr0001.doc http://www.waymaker.net/bitonline/2003/01/02/20030102BIT00260/wkr0002.pdf