European Small Companies Fund Class C (GBP, Income)

Inception Date
27 April 2005 		SEDOL Code
B05PYQ3

The following is only a summary of the Fund. For a full description, please consult the Fund's prospectus.

The investment policy of the European Small Companies Fund is to purchase securities of certain European traded companies that Dimensional deems eligible small companies. Companies are considered small primarily based on market capitalisation. Generally, the Fund intends to purchase a broad and diverse group of shares of small companies traded on principal exchanges in certain European countries. Currently, the Fund may invest in Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. No more than 20% of the Fund's net assets will be invested in European countries that Dimensional considers to be emerging markets.

The Fund is organised under Dimensional Funds plc, an umbrella fund constituted as an investment company with variable capital under the laws of Ireland and authorised by the Irish Financial Services Regulatory Authority pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations of 2003 and operating as an Undertaking for Collective Investment in Transferable Securities.

Past performance of a fund does not necessarily indicate future performance.

The principal risks associated with an investment in this Fund are market risk, international investing risk, emerging market countries risk, credit risk, foreign exchange risk, share currency designation risk, portfolio turnover risk, small companies risk, and equities risk. An investment in this Fund may also involve the risks associated with the use of when-issued and delayed-delivery securities, futures and options contracts, and convertible securities. There is no investment guarantee equivalent to deposit protection. These risks are more fully described in the prospectus in the section entitled "Special Considerations and Risk Factors."

Prices & Performance
Date/Time Closing
Price		 Day
Return		 MtD
Return		 YtD
Return
2 July 2008/9pm £13.49 -1.03% -3.23% -13.37%
         
30 June 2008/9pm £13.94 -0.07% -9.13% -10.48%
31 March 2008/9pm £15.05 0.94% 1.55% -4.20%
31 December 2007/9pm £15.71 -0.13% 0.26% 0.23%
28 September 2007/9pm £16.61 -0.12% -0.89% 4.88%

These Net Asset Values ("NAVs") have been prepared by the fund accounting agent. Dimensional Fund Advisors Ltd. reserves the right to restate these NAVs, if necessary, at any time.

For the help desk, call 00353-53-91-49-827.

Returns are calculated net of all fees.
Performance data reported by Dimensional Fund Advisors Ltd. represents past performance and does not predict future performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Further, there can be no assurance that any of the Funds will achieve its investment objective.


Distributions (last 12 months)
Type Amount per Share Record Date Ex-dividend Date Payable Date Ex-dividend Price
Dividend £0.1354 5/29/2008 5/30/2008 6/5/2008 £15.340
£0.0293 12/3/2007 11/30/2007 2/28/2008 £15.670
Dividend £0.1344 12/3/2007 11/30/2007 2/28/2008 £15.670


Top 20 Holdings
As of May 31, 2008 % of Portfolio
NEXANS SA 0.47
LANXESS 0.46
ARKEMA 0.45
EXPRO INTERNATIONAL GRP P 0.45
YIT OYJ 0.43
STADA ARZNEIMITTEL AG 0.43
NEOPOST SA 0.42
ATOS ORIGIN SA 0.41
TITAN CEMENT CO. S.A. 0.41
BILFINGER BERGER AG 0.40
IAWS GROUP PLC 0.40
INTERTEK GROUP PLC 0.40
CHARTER PLC 0.39
SCOR SE 0.39
SGL CARBON AG 0.38
BOURBON SA 0.38
IMI PLC 0.38
COOKSON GROUP PLC 0.38
DE LA RUE PLC 0.37
VALEO SA 0.37
Total 7.80


Industry Allocations
As of May 31, 2008 % of Fund
Business Equipment 11.4
Business Services 8.3
Communications 1.7
Construction 8.9
Durables 5.0
Energy 4.6
Financial 15.5
Manufacturing 8.8
Non-Durables 23.4
Other 2.7
Reits 0.1
Transportation 7.0
Utilities 2.6
Total 100.0

Industries defined by Fama/French.