Portfolio Update

F&C Global Smaller Companies PLC
02 July 2007

FURTHER TO THE ANNOUCEMENT  RNS NUMBER 4907Z RELEASE AT 16.58

UTILICO INVESTMENT TRUST PLC HAS BEEN REPLACE BY UTILICO LIMITED. THERE ARE NO
OTHER CHANGES



As at 30 June 2007, F&C Global Smaller Companies PLC had the following holding
in a UK listed investment company that did not have a stated policy to invest no
more than 15% of its gross assets in other UK listed investment companies:


Investment Company              Holding (% of gross assets at bid market price)
Utilico limited                 0.90%








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