RNS Number:3866R
Exeter Smaller Co's Income Fund Ld
28 October 2003

28th October 2003

Exeter Smaller Companies Income Fund

Following the publication by the FSA of its changes to the Listing Rules and
Conduct of Business Rules, the Board has noted their effect on the Company and
confirms that, in line with its Investment Policy, in excess of 15% of its gross
assets are invested in other listed investment companies.


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