Portfolio Update

F&C U.S. Smaller Companies PLC
03 October 2006


F&C US Smaller Companies PLC

Top ten holdings and all holdings over 5% of gross assets as at 30 September 2006:

Stock                                                        % of gross assets


Cousins Properties                                                  2.9
Community Health Systems                                            2.6
Dollar Thrifty Automotive                                           2.6
Republic Services                                                   2.3
CapitalSource                                                       2.3
Premiere Global Services                                            2.1
Jarden                                                              2.1
Americas Car-Mart                                                   2.0
Actuant                                                             1.9
Hub                                                                 1.9




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