Scottish Oriental Smaller Cos Trust (SST) Ordinary 25p

To achieve long-term capital growth by investing in mainly smaller Asian quoted companies with market capitalisations of below USD 5,000 m, or the equivalent thereof, at the time of investment.

Annual management fee of 0.75% p.a. on the NAV of the company payable quarterly in arrears. Performance fee is 10% of that portion of the NAV outperformance over the benchmark. Contract is terminable on 1 year notice.

The Company intends that its income will be derived wholly or mainly from shares or other securities. The principal objective of the Company is capital growth and accordingly the net income, if any, will be negligible and it is unlikely that any dividends paid by the Company will be significant. Any dividend payable on the Ords will be paid in January or February.

Vinay Agarwal

Vinay Agarwal is a Director of FSSA Investment Managers, part of First Sentier Investors. He joined FSSA Investment Managers in 2011, with a focus on the Indian Subcontinent markets in particular and Asia Pacific equities in general. Vinay is the lead manager of the FSSA Asia Focus strategy, the FSSA Indian Subcontinent strategy and the Scottish Oriental Smaller Companies Trust. He is also responsible for managing a number of Asia Pacific and Indian equity portfolios on behalf of key client segregated accounts. Vinay has more than 20 years of investment experience. He graduated in 2002 with a management degree with a major in Finance from the Indian Institute of Management Calcutta. Vinay also holds a Bachelor of Commerce (Hons) degree with a major in Accountancy from Calcutta University.

Jeremy WhitleyChairman, Andrew Baird, Michelle Paisley, Uma Bhugtiar, Karen Roydon