Purchase of Own Securities

Foreign & Colonial U.S.Smllr.Co PLC
19 October 2001


                FOREIGN & COLONIAL U.S. SMALLER COMPANIES PLC

                           PURCHASE OF OWN WARRANTS



1) Date of purchase:

18 October 2001

2) Number of Warrants purchased:

1,327,213

3) Highest and lowest price paid per warrant (excluding expenses):

96 pence

4) The warrants in issue of the Company following this buy-back will be:

Warrants - 2,908,267

5) Name and telephone number of contact for queries:

Sally Cox

Tel: [phone]

6) Name of authorised Company official responsible for this notification:

Sally Cox

For and on behalf of F&C Management Limited, Secretary

7) Date of notification

18 October 2001


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