Proposals Re Future of Comp'y

ISIS Smaller Companies Trust PLC
11 August 2006

                                 11 August 2006

                        ISIS SMALLER COMPANIES TRUST PLC

                         CIRCULAR RELATING TO PROPOSALS
                         FOR THE FUTURE OF THE COMPANY

The Company announced on 2 August 2006 proposals regarding its future investment
management arrangements, investment objective and policy, name and related
matters.  A circular containing details of those proposals is being despatched
to shareholders of the Company today.  Copies of that circular have been
submitted to the UK Listing Authority and will shortly be available for
inspection at the UK Listing Authority's Document Viewing Facility, which is
situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Tel: [phone]


Enquiries

Andrew Irvine    Chairman, ISIS Smaller Companies Trust plc   Tel: [phone]
Gordon Neilly    Intelli Corporate Finance Limited            Tel: [phone]




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