Issue of Equity

Edinburgh Small Companies Trust PLC
17 October 2001


ISSUE OF ORDINARY SHARES



The board of Edinburgh Small Companies Trust plc announce the issue of 1961
ordinary shares at a price of 100p per share on 18 October 2001. The shares
were allotted following the exercise of warrants (to subscribe for ordinary
shares) on 30 September 2001.  Following the issue, there will be 67,403,646
ordinary shares in issue.

The issue is subject to the listing of the shares on the London Stock Exchange
and an application has also been made to the UK Listing Authority (the hearing
to be held on 17 October 2001).

For Edinburgh Small Companies Trust plc

Edinburgh Fund Managers plc

Secretary

17.10.01