AGM Statement

ABERFORTH SMALLER COMPANIES TRUST plc

ANNUAL GENERAL MEETING HELD ON 2 MARCH 2011

The Board of Aberforth Smaller Companies Trust plc ("ASCoT") hereby report that
all the resolutions proposed at the Annual General Meeting held on 2 March 2011
were passed by Shareholders on a show of hands. A total of 57,430,555 proxy
votes were received, representing 59.6% of the 96,366,792 Ordinary Shares in
issue.

The table below shows the result of the proxy voting:

Resolution   Votes in   Votes at         Votes at    Votes     Votes        Total
               favour Chairman's        Corporate  against  withheld        proxy
                      discretion Representative's                           votes
                                       discretion                              
                                                                               
1          56,224,127    103,631            2,961        0 1,099,836   57,430,555
                                                                               
2          56,218,651    103,631            2,961    3,726 1,101,586   57,430,555
                                                                               
3          56,220,423    103,631            2,961    1,229 1,102,311   57,430,555
                                                                               
4          56,220,651    103,631            2,961    3,726 1,099,586   57,430,555
                                                                               
5          56,223,423    103,631            2,961      954 1,099,586   57,430,555
                                                                               
6          56,224,148    103,631            2,961      229 1,099,586   57,430,555
                                                                               
7          56,205,711    105,047            2,961   10,000 1,106,836   57,430,555
                                                                               
8          56,218,405    103,631            2,961    3,527 1,102,031   57,430,555
                                                                               
9          57,230,067     92,753            2,961  104,774         0   57,430,555
                                                                               
10         56,213,369     95,753            2,961    2,801 1,115,671   57,430,555

Copies of the resolutions passed by Shareholders of the Company have been
submitted to the National Storage Mechanism and will shortly be available for
inspection at: www.Hemscott.com/nsm.do

Contact:

David Holland • Aberforth Partners LLP • 0131 220 0733

Aberforth Partners LLP, Secretaries - 3 March 2011

ANNOUNCEMENT ENDS