RNS Number:5040S
Exeter Smaller Co's Income Fund Ld
26 November 2003

Exeter Smaller Companies Income Fund Limited and ESCIF Securities Limited



Please be advised that the unaudited net asset value per share of Exeter Smaller
Companies Income Fund Limited as at 21st November, 2003 was 0.00p



The unaudited net asset value per share of ESCIF Securities Limited as at 21st
November, 2003 was 70.10p.  This net asset value includes #2,170,403 of prior
years retained revenues and #60,122 of undistributed current period revenue of
Exeter Smaller Companies Income Fund Limited.



The above net asset values were calculated using mid prices for all investments.





Close Fund Services Limited

As secretary


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