Portfolio Update

North Atlantic Smlr Co Inv Tst PLC
02 August 2007



     North Atlantic Smaller Companies Investment Trust PLC (the 'Company')



In compliance with paragraph 15.4.11 (2) of the Listing Rules of the UK Listing
Authority, we hereby give notice that, as at 31 July 2007, the Company's ten
largest investments, which includes those with a value greater than 5% of the
Company's gross assets, are:


        Name of Investee Company                         Class of share


   1    Castle Support Services                          Ordinary
   2    Oryx International Growth Fund                   Ordinary
   3    W-H Energy Services                              Common
   4    Nationwide Accident Repair Services              Ordinary
   5    US Treasury Bill 13/09/07                        Treasury Stock
   6    Inspired Gaming Group                            Ordinary
   7    US Treasury Bill 16/08/07                        Treasury Stock
   8    BBA Aviation                                     Ordinary
   9    Gleeson (MJ) Group                               Ordinary
  10    Georgica                                         Ordinary





                      This information is provided by RNS
            The company news service from the London Stock Exchange    

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