US SPECIAL OPPORTUNITIES TRUST PLC                       
                                                                               
                  ESTIMATED NET ASSET VALUE CALCULATION AS AT                  
                                                                               
                                26 October 2007                                
                                                                               
                                                     UK GAAP                   
                                                                               
                                              � million               %        
                                                                               
US Growth       Investments*                      76.28           70.63        
Portfolio                                                                      
                                                                               
                Cash including Treasury           15.39           14.25        
                Bills                                                          
                                                                               
                                                  91.67           84.88        
                                                                               
Income          Investment companies               7.48            6.93        
Portfolio                                                                      
                                                                               
                Reverse convertible bonds          4.48            4.15        
                                                                               
                Cash                               3.58            3.31        
                                                                               
                                                  15.54           14.39        
                                                                               
Other net current assets/(liabilities)             0.80            0.73        
                                                                               
Total Assets    (including revenue               108.01          100.00        
                reserves                                                       
                                                                               
                at 31 May 2007 of �1.12m)                                      
                                                                               
                                              � million                        
                                                                               
Net assets      (including revenue                88.06                        
                reserves                                                       
                                                                               
                at 31 May 2007 of �1.12m)                                      
                                                                               
                                                              Number of shares 
                                                              in issue         
                                                                               
Net Asset Value per                Capital       28.12p        50,000,000      
share:                                                                         
                                                                               
                                    Income      100.74p        49,670,000      
                                                                               
                                       ZDP      173.64p        13,799,000      
                                                                               
                                                                      US$      
                                                                               
USD exchange rate used to revalue all US assets and               2.05215      
liabilities                                                                    

The net asset value calculation includes the time value of unlisted warrants in
respect of the portfolio valuation. The Company has adopted the Black Scholes
methodology and will calculate the time value (in dollars) of unlisted warrants
every quarter. The twice weekly NAV calculations will be calculated by valuing
the intrinsic value of the warrants and adding the time value as at the most
recent quarterly valuation.

Intrinsic value of unlisted warrants as at 26 October             $2,409,900
2007:                                                                       
                                                                            
Sterling equivalent at exchange rate above:                           �1.17m
                                                                            
Time value of unlisted warrants as at 31 August 2007:             $4,092,852
                                                                            
(adjusted for warrants subsequently acquired, exercised,                    
expired or disposed)                                                        
                                                                            
Sterling equivalent at exchange rate above:                           �1.99m



END
Us Special Opps Trust (LSE:USPI)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Us Special Opps Trust Charts.
Us Special Opps Trust (LSE:USPI)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Us Special Opps Trust Charts.