Net Asset Value(s)

The net asset value of Edinburgh Small Companies Trust plc as at the close of business on 27 January 2003 are as follows: (For Edinburgh Fund Managers plc, Company Secretary) Undiluted nav (p): 51.99 Diluted nav (p): n/a Potential Gearing: 154.8 Actual Gearing: 120.5 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/01/28/20030128BIT00880/wkr0001.doc http://www.waymaker.net/bitonline/2003/01/28/20030128BIT00880/wkr0002.pdf