RNS No. 7523K
GERMAN SMALLER COMPANIES INVESTMENT TRUST PLC
21 JULY 1999




Re:  Unaudited Net Asset Values - German Smaller Companies Investment Trust plc

Hill Samuel Asset Management Limited announces the unaudited Net Asset Values of
the German Smaller Companies Investment Trust Plc at 16 July 1999:-

Undiluted NAV                      189.05 pence per unit
Diluted NAV                        178.70 pence per unit


END



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