AGM Result and Resignation of Director

INVESCO Perpetual UK Smaller Companies Investment Trust plc          

HEADLINE: Annual General Meeting Result and Resignation of Director

At the Annual General Meeting of the Company held on 8 May 2003 shareholders
approved the following resolutions:

i. to receive the Directors' Report and Accounts for the year ended 31 January
2003;

ii. to declare a final dividend of 5.5p per ordinary share;
   
iii. to re-elect Richard Brooman a Director of the Company;
   
iv. to re-elect Garth Milne a Director of the Company;
   
 v. to approve the Directors' Remuneration Report;
   
vi. to re-appoint RSM Robson Rhodes LLP as Auditors and authorise the Directors
    to determine their remuneration;
   
vii. to renew the Directors' authority to issue new ordinary shares and to
    disregard pre-emption rights; and
   
viii. to renew the Directors' authority to purchase shares of the Company in
    the market for cancellation within the parameters specified.
   
Mr Bruce McIntosh retired as a Director of the Company at the end of the Annual
General Meeting.

Alex Proudler

For and on behalf of

INVESCO Perpetual UK Smaller Companies Investment Trust plc

8 May 2003