Net Asset Value(s)

Scottish Oriental Smlr Co Tst PLC
05 August 2005


THE SCOTTISH ORIENTAL SMALLER COMPANIES TRUST PLC
First State Investment Management (UK) Limited, the managers of The Scottish
Oriental Smaller Companies Trust PLC (Scottish Oriental), announce that the
unaudited Net Asset Value of Scottish Oriental Ordinary shares as at 29th July
2005 was 224.22p (assuming full conversion of all outstanding warrants). This
equates to an undiluted figure of 247.25p. Neither of these figures include any
income retention for the year to-date.
The fully-diluted and undiluted NAVs calculated to include an estimate of income
net of expenses retained for the year to-date were 227.46p and 251.09p
respectively. These latter NAVs are now given on a monthly basis to the AITC.



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