Purchase of Own Securities

Ivory & Sime UK Smlr.Co's Trust PLC
03 March 2003





To:            RNS

From:          Ivory & Sime UK Smaller Companies Trust plc

Date:          3 March 2003





Purchase of Own Securities


On 3 March 2003 Ivory & Sime UK Smaller Companies Trust plc bought 50,000 of its
own Ordinary Shares of 50p for cancellation at a price of 102p each. There are
21,820,260 shares in issue following this repurchase.


Gordon R Hay Smith

Company Secretary


Enquiries:     0131 465 1000



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