VES Vestpa

RNS No 6596x
VOYAGEUR EUROPEAN SMALLER COMPANIES TRUST PLC
19th November 1997


            VOYAGEUR EUROPEAN SMALLER COMPANIES TRUST PLC
          ---------------------------------------------
                                 
            RESULT OF EGM AND SCHEME OF RECONSTRUCTION
            ------------------------------------------

At the extraordinary general meeting of Voyageur European Smaller
Companies  Trust PLC which took place earlier today each of the
resolutions proposed was passed.  AS a result the Company has now
been placed in members' voluntary liquidation and Graham Ritchie
and John Charles Jeffrey Readman both of Ernst & Young of Ten
George Street, Edinburgh EH2 EDZ have been appointed as liquidators
for the purposes of the winding up.

Under the scheme of reconstruction, details of which were set out
in the circular dated 17 October 1997 (the Circular), holders of
6,118,505 Ordinary Shares representing 60.8 per cent of the
Ordinary Shares in issue elected, or were deemed to have elected,
to receive shares in Capital Opportunities Trust PLC and holders of
3,950,495 Ordinary Shares representing 39.2 per cent of the
Ordinary Shares in issue elected to receive shares in
RealisationCo.

Enquiries
---------

SBC Warburg Dillon Read
Jake Elmhirst                           Tel: 0171 568 2542


END

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