RNS No 1255f
GERMAN SMALLER COMPANIES INVESTMENT TRUST PLC
31st July 1997

Hill Samuel Asset Management Limited announces that the unaudited Net Asset
Value of the German Smaller Companies Investment Trust plc as 25th July 1997
was:-

Undiluted NAV                              126.1 pence per 25p share
Diluted NAV                                126.7 pence per 25p share

END
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