RNS Number:0901R
Britannic Smaller Companies Tst PLC
20 October 2003



                     BRITANNIC SMALLER COMPANIES TRUST PLC

                                20 October 2003



Announcement begins


Britannic Smaller Companies Trust plc notes the publication of the Investment
Entities (Listing Rules and Conduct of Business) Instrument 2003, following
consultation paper CP 164 and announces that the Company's policy is to have no
more than 15 per cent of its gross assets invested in other listed investment
companies.  The Company further announces that it currently has 0 per cent of
its gross assets invested in other listed investment companies.


For further information contact:

Britannic Asset Management Press Office                 0141-222- 8226

Donna Reid - Investment Trust Manager                   0141-222- 8257


Announcement ends







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