Portfolio Update

ISIS Smaller Companies Trust PLC
14 June 2006

ISIS Smaller Companies Trust plc



ALL DATA AS AT 31st May 2006



THIS DATA WILL BE AVAILABLE ON THE F&C ASSET MANAGEMENT WEB-SITE, 
http://www.fandc.com/ FROM APPROXIMATELY 18th June 2006



Top ten holdings



Restaurant Group  4.7%
Mouchel Parkman  4.1%
Xaar  3.6%
MTL Instruments  3.4%
Hitachi Capital   3.4%
Victrex  2.5%
Morgan Crucible  2.4%
Domino Printing Science 2.3%
Brewin Dolphin  2.2%
Codascisys  2.1%

Total 30.8%





Sector breakdown



Industrials  41.0%
Consumer Services 18.2%
Financials  13.1%
Technology  9.0%
Consumer Goods  5.4%
Basic Materials  4.9%
Oil & Gas  2.9%
Cash & Subsidiary  2.8%
Healthcare  2.6%


Total  100.0%








Actual gearing:  108.2
Potential gearing:  110.1














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