Month End Portfolio Info

F&C Smaller Companies PLC
16 June 2003


F&C SMALLER COMPANIES PLC ALL DATA AS AT 31st May 2003 THIS DATA WILL BE
AVAILABLE ON THE F&C MANAGEMENT WEB-SITE, www.fandc.com FROM APPROXIMATELY 18th
June 2003

GEOGRAPHICAL ASSET ALLOCATION                                    %
UK                                                               41
USA                                                              25
Cont. Europe                                                     10
Cash & Fixed Interest                                            10
Japan                                                            8
Far East                                                         6
                                                                 ----
Total                                                            100
                                                                 ====
TOP 10 HOLDINGS                                                  %
Kirby Corp                                                       1.17
CLS Holdings                                                     1.10
Graphite Enterprise Tst                                          1.01
American Capital Strategies                                      1.00
Cousins Properties                                               0.99
SVB Holdings                                                     0.98
Cairn Energy                                                     0.97
SCP Pool                                                         0.86
Brit Insurance                                                   0.85
Special Utilities                                                0.84
                                                                 -----
Total                                                            9.77
                                                                 =====
EFFECTIVE GEARING                                                4%



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