Portfolio Update

Merrill Lynch Br. SmallerCo Tst PLC
02 March 2007

Merrill Lynch British Smaller Companies Trust plc
As at 28 February 2007


Top 10 holdings:



AVEVA GROUP
BREWIN DOLPHIN
BSS group
chaucer holdings
DECHRA PHARMACEUTICALS
DOMINO PRINTING
ITE GROUP
RATHBONE BROTHERS
VICTREX
WSP GROUP




Other holdings over 5%:



n/a


Holdings in restricted UK listed investment companies:

n/a


2 March 2007


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