Month End Portfolio Info

F&C Smaller Companies PLC
15 August 2003


F&C SMALLER COMPANIES PLC ALL DATA AS AT 31st July 2003 THIS DATA WILL BE
AVAILABLE ON THE F&C MANAGEMENT WEB-SITE, www.fandc.com FROM APPROXIMATELY 18th
August 2003
GEOGRAPHICAL ASSET ALLOCATION                                    %
UK                                                               42
USA                                                              24
Europe                                                           10
Cash & F.I.                                                      9
Japan                                                            8
Far East                                                         7
                                                                 ----
Total                                                            100
                                                                 ====
TOP 10 HOLDINGS                                                  %
Kirby Corp                                                       1.05
Cousins Properties                                               0.93
SCP Pool                                                         0.93
Graphite Enterprise Tst                                          0.93
American Capital Strategies                                      0.92
Cairn Energy                                                     0.90
Victrex                                                          0.86
Special Utilities                                                0.82
SIG                                                              0.80
Linmark Group                                                    0.79
                                                                 -----
Total                                                            8.93
                                                                 =====
EFFECTIVE GEARING                                                4%



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