Form of Proxy

THE EUROPEAN SMALLER COMPANIES TRUST PLC

BD Client Code:

Client Name:

Number of Shares Held in a BD Nominee Company:

No.	Proposition		For	Against	Abstain
1	TO AUTHORISE THE DIRECTORS TO ALLOT SHARES IN CONNECTION WITH THE ISSUE
2	TO APPROVE AN INCREASE TO THE TOTAL FEES WHICH MAY BE PAID TO THE DIRECTORS FROM 250000 POUNDS TO 500000 POUNDS PER ANNUM
3	TO CANCEL THE AMOUNT STANDING TO THE CREDIT OF THE SHARE PREMIUM ACCOUNT OF THE COMPANY ON THE DATE OF PASSING OF THIS RESOLUTION AND IMMEDIATELY FOLLOWING THE ISSUE