3I Smaller Quoted Companies Trust Plc - ISQ- Profile

Merrill Lynch British Smaller Companies Trust PLC Formerly known as 3i Smaller Quoted Companies Trust PLC. The Company's principal activity is that of an Investment Trust Company. The objective of the Company is to achieve long term capital growth for shareholders in excess of the growth in the FTSE SmallCap Index excluding Investment Companies through investment mainly in smaller United Kingdom quoted companies. The Company is an Investment Company and can take advantage of Section 265 of the Companies Act 1985. The Company has been approved by HM Revenue & Customs as an Investment Trust for the purposes of Section 842 of the Income and Corporation Taxes Act 1988 for the year ended 28-Feb-2005.Investment management services are provided by Merrill Lynch Investment Managers Ltd for an annual fee of 0.65% in respect of the first £50 million of the Company's total assets less current liabilities, reducing to 0.5% thereafter. The agreement is terminable on six months' notice. Operates as an Investment Trust Company