Rule 2.10 Announcement

F&C Smaller Companies PLC
02 September 2004

The Stock Exchange

RNS

Old Broad Street

London

EC2N 1HP                                   02 September 2004

Dear Sir

As at 31 August 2004, F&C Smaller Companies PLC had the following holding in
other UK listed investment companies that do not have a stated policy to invest
no more than 15% of their gross assets in other UK listed investment companies:


Investment Company                                      Holding (% of gross assets)

Utilico Investment Trust plc                            0.93%






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