Net Asset Value(s)

The net asset value of Edinburgh Small Companies Trust plc as at the close of business on 20 January 2003 are as follows: (For Edinburgh Fund Managers plc, Company Secretary) Undiluted nav (p): 54.34 Diluted nav (p): n/a Potential Gearing: 152.4 Actual Gearing: 120.1 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/01/21/20030121BIT00330/wkr0001.doc http://www.waymaker.net/bitonline/2003/01/21/20030121BIT00330/wkr0002.pdf