RNS Number:3359T
Exeter Smaller Co's Income Fund Ld
16 December 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 12th December, 2003 was 0.00p



The unaudited net asset value per share of ESCIF Securities Limited as at 12th
December, 2003 was 69.42p.  This net asset value includes #2,164,349 of prior
years retained revenues and #44,017 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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