Purchase of Own Securities

IVORY & SIME UK SMALLER COMPANIES TRUST PLC 15 September 1999 The Board of Ivory & Sime UK Smaller Companies Trust plc announces that on 14 September 1999 it purchased for cancellation 60,000 of its warrants in the Company at a price of 104.5p each. Following this purchase there are 982,445 warrants outstanding. Contact: Stephen Grant/ Keith Hannay Friends Ivory & Sime plc, Managers 0131 465 1000
UK 100

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