EDU Edin.UK Small

    Edinburgh UK Smaller Companies Tracker Trust plc

Result of Annual General Meeting

The Board announces that at the Annual General Meeting held at One Bow
Churchyard, London, EC4M 9HH, at 11.30 a.m. on Monday, 5 July 2004, the Ordinary
Resolutions numbered 1 to 9 and the Special Resolutions numbered 10 and 11 as
set out in the Notice of Meeting were passed.

As noted in the report and accounts, the fact that shares trade at discounts to
net asset values has been a continuing problem in the investment trust sector.
In line with many of its peers, the Company has not been immune from this issue
and the Board is very much aware that this is an area requiring constant
attention.

The Board believes that the combination of re-branding to use the Edinburgh name
with re-packaged savings plans and the manager's expanded index and marketing
teams, together with a strong commitment to a sensible ongoing share buy back
programme, should help to lower the discount and reduce discount volatility.
Since the EGM held to effect the re-branding on 24 February of this year the
average discount has been 11.2% which compares with an average discount during
2002 and 2003 of 16.9%.

While this reduction in the level of discount is encouraging, the Board believes
that further progress is achievable.  The Board is therefore considering
proposals which include shareholders being given the opportunity to realise up
to 20% of their holding in the Company through an annual tender offer.

The Board is confident that the provision of such proposals, together with the
package of measures noted above which have already been successful, will help to
further reduce the discount to net asset value.

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