RNS Number:5343T
Britannic Smaller Companies Tst PLC
22 December 2003



Announcement begins



Britannic Smaller Companies Trust PLC announces that as at the close of business
on 19 December 2003, the unaudited net asset value per share as calculated in
accordance with the AITC formula (excluding current financial year revenue
items) was 178.88p.





For further information contact:



Donna Reid
Britannic Investment Managers Limited
0141 - 222 - 8257



Announcement Ends




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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