Directorate Change

North Atlantic Smlr Co Inv Tst PLC
29 March 2006

         North Atlantic Smaller Companies Investment Trust PLC

The Board of North Atlantic Smaller Companies Investment Trust PLC today
announces that The Hon Peregrine Moncreiffe has resigned as a Director of the
Company with effect from 27 March 2006.    Peregrine has been a Director since
March 1993 and the Board will miss his wise counsel.  The Board thanks him for
his valuable contribution over the past 13 years.


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