Net Asset Value(s)

Scottish Oriental Smlr Co Tst PLC
03 August 2006


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 31st July
2006 was 253.15p (assuming full conversion of all outstanding warrants). This
equates to an undiluted figure of 276.37p. 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 256.55p and 280.28p
respectively. These latter NAVs are now given on a monthly basis to the AITC.



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