Smaller Companies Value Trust PLC



Scottish Widows Investment Partnership Limited announces the following unaudited
Net Asset

Values of Smaller Companies Value Trust plc

These figures include all income:

                           21 September 2007

            Package Unit   239.99               pence per share

            Capital Shares 182.95               pence per share

            Income Shares  57.04                pence per share

These figures exclude all income:

                            21 September 2007

             Package Unit   236.06               pence per share

             Capital Shares 182.95               pence per share

             Income Shares  53.11                pence per share

Yours faithfully,

Helen Jones
Scottish Widows Investment Partnership Limited



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