SAR -Exeter Smaller Companies

RNS Number:5189S
Aberdeen Asset Management PLC
26 November 2003

FORM SAR 5

Lodge with Company Announcements Office and the Panel. A copy must also be sent
to the company the shares of which are being sold.

Date of disclosure.....26/11/03.......

DISCLOSURE UNDER NOTE 3 OF RULE 5 OF THE RULES GOVERNING
SUBSTANTIAL ACQUISITIONS OF SHARES ("SARs")


Date of sale...25/11/03.....................................................

Sale of...Exeter Smaller Companies Income Fund Limited........ (name of company)

(1) Class of voting      shares             Number of shares/rights                 If rights over shares
     (eg ordinary shares)                   over shares sold                        sold, as opposed
                                                                                    to the shares
                                                                                    themselves, specify
                                                                                    nature of rights
                                            4,150,000     shares
    Ordinary 10p
                                            rights
(2) Resultant total      holding of         Resultant total holding of rights       Total percentage
voting      shares (and % of                over shares(and % of total voting
rights over shares      in issue)           shares in issue)
                                                 (%)                                (15.48%)
    9,925,000 (15.48%)

(3) Party making disclosure..Aberdeen Asset Management PLC..

(4) (a) Name of person selling shares or rights over shares ..............
and, if different, beneficial owner.. Discretionary funds under the.
Management of Aberdeen Asset Management PLC..
(b) Names of any other persons acting by
agreement or understanding (see SAR 5)............................


Signed, for and on behalf of the party named in (3) above...................

(Also print name of signatory)..Aileen Strachan................................

Telephone and extension number..01224 631999 Ext 5291.......................


or full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section, Tel. No: 020 7638 0129.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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