RNS Number:4131U
Exeter Smaller Co's Income Fund Ld
20 January 2004

Exeter Smaller Companies Income Fund Limited and ESCIF Securities Limited



Please be advised that the unaudited net asset value per share of Exeter Smaller
Companies Income Fund Limited as at 16th January 2004 was 0.00p



The unaudited net asset value per share of ESCIF Securities Limited as at 16th
January 2004 was 72.78p.  This net asset value includes #2,164,349 of prior
years retained revenues and #54,736.25 of undistributed current period revenue
of Exeter Smaller Companies Income Fund Limited.



The above net asset values were calculated using mid prices for all investments.





Close Fund Services Limited

As secretary


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