RNS No 4348x
GERMAN SMALLER COMPANIES INVESTMENT TRUST PLC
3 August 1999


To: Company Announcements Office

Hill Samuel Asset Management Limited announces the unaudited Net Asset Values of
the German Smaller Companies Investment Trust Plc at 30 July 1999:-

Undiluted NAV       181.59 pence per unit
Diluted NAV         172.55 pence per unit

From:  Deborah Saunders
       Company Secretary
       Hill Samuel Asset Management

END

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