Conversion of Warrants

Standard Life UK Small.Co's Tst PLC
26 October 2007



Standard Life UK Smaller Companies Trust plc

26 October 2007

Conversion of Warrants


Application has been made by Standard Life UK Smaller Companies Trust plc ('the
Company') to the Financial Services Authority and the London Stock Exchange for
a total of 12,970 Ordinary shares of 25p each ('Ordinary Shares') to be admitted
to the Official List.

It is intended that permission to admit the new Ordinary Shares will be granted
on 26 October 2007 and that admission and trading of the new Ordinary Shares
will commence on 29 October 2007.

The listing application has been made following the exercise of 12,970 warrants
to subscribe for Ordinary Shares at 100p per Ordinary Share ('Warrants') on 15
October 2007.

The Ordinary Shares will rank pari passu with the existing Ordinary Shares of
the Company, save that they will not rank for the final dividend declared in
respect of the year ended 30 June 2007, which is payable on 26 October 2007.

Following the issue there will be 32,596,760 Ordinary Shares and 2,897,510 
Warrants in issue.



Enquiries:

Stuart Reid
Edinburgh Fund Managers PLC
Secretaries

Tel. [phone]



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