Annual Report and Accounts

North Atlantic Smlr Co Inv Tst PLC
07 June 2006

North Atlantic Smaller Companies Investment Trust PLC

Annual Report for the year ended 31 January 2006



A copy of the above document, along with a copy of the Conversion Notice to Loan
Stockholders, has been submitted to the UK Listing Authority today (7 June
2006), 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. No. (0)20 7676 1000.


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