Management Arrangements

ISIS Smaller Companies Trust PLC
03 April 2006


ISIS Smaller Companies Trust plc

Management Arrangements


The Board of ISIS Smaller Companies Trust plc has been advised by F&C Asset
Management plc that Stephen Grant, the Company's lead fund manager, will be
leaving F&C. The Board is reviewing with F&C its proposed management
arrangements for the Company, and will make a further announcement in due
course. Stephen Grant will continue to manage the Company's portfolio in the
meantime.


All enquiries:
Gordon Humphries
F&C Asset Management plc
0131 465 1000

Darren Willis
Intelli Corporate Finance Limited
0207 653 6308


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