Holding(s) in Company

NOTIFICATION OF MAJOR INTERESTS IN SHARES

1.Identity of the issuer or the underlying       Aberforth Smaller Companies Trust plc 
issuer of existing shares to which voting rights                  
are attached:                                                                    
                                                                                 
2. Reason for the notification:                                                  
                                                                                 
An acquisition or disposal of voting rights      Yes                             
                                                                                 
An acquisition or disposal of financial          N/A                             
instruments which may result in the acquisition                                  
of shares already issued to which voting rights                                  
are attached                                                                     
                                                                                 
An event changing the breakdown of voting rights N/A                             
                                                                                 
Other (please specify):                                                          
                                                                                
                                                                                 
3. Full name of person(s) subject to the         Legal & General Group Plc (L&G) 
notification obligation                                                          
                                                                                 
4. Full name of shareholder(s) (if different     N/A                             
from 3.):                                                                        
                                                                                 
5. Date of the transaction (and date on which    18 April 2012                   
the threshold is crossed or reached if                                           
different):                                                                      
                                                                                 
6. Date on which issuer notified:                20 April 2012                   
                                                                                 
7. Threshold(s) that is/are crossed or reached:  Below 3%                        
                                                                                 
8. Notified details:                                                             
                                                                                 
A: Voting rights attached to shares                                              
                                                                                 
Class/type  Situation previous to the     Resulting situation after the          
of shares   Triggering transaction        triggering transaction                 
                                                                                 
if possible Number of   Number of Voting  Number  Number of       % of voting    
using the   Shares      Rights            of      voting rights   rights         
ISIN CODE                                 Shares                                 
                                                                                 
                                          Direct  Direct Indirect Direct Indirect
                                                                                 
Ordinary 1p 2,985,283   2,985,283                                 Below  Below 3%
Shares                                                            3%             
                                                                                 
GB000006655                                                                      
                                                                                 


 
B: Financial Instruments                                                         
                                                                                 
Resulting situation after the triggering transaction                             
                                                                                 
Type of    Expiration Exercise/          Number of voting rights     % of voting 
financial  date       Conversion  Period that may be acquired if the rights      
instrument            / Date             instrument is exercised/                
                                         converted.                              
                                                                                 
N/A        N/A        N/A                N/A                         N/A         
                                                                                 
Total (A+B)                                                                      
                                                                                 
Number of voting rights         % of voting rights                               
                                                                                 
Below 3%                        Below 3%                                         
                                                                                 
9. Chain of controlled undertakings through which the voting rights and/or the   
financial instruments are effectively held, if applicable                        
                                                                                 
Legal & General Group Plc (Direct and Indirect) (Group)                          
                                                                                 
Legal & General Investment Management (Holdings) Limited (LGIMH)                 
(Direct and Indirect)                                                            
                                                                                 
Legal & General Investment Management Limited (Indirect) (LGIM)                  
                                                                                 
     Legal & General Group Plc (Direct) (L&G) (Below 3% = LGAS, LGPL & PMC)       
                                              
                                   
Legal & General Investment Management (Holdings)        Legal & General           
Limited (Direct) (LGIMHD)                               Insurance Holdings        
                                                        Limited (Direct) (LGIH)   
                                                                                 
Legal & General Assurance (Pensions Management)         Legal & General           
Limited  (PMC)                                          Assurance Society         
                                                        Limited  (LGAS & LGPL)    
                                                                                 
                                                        Legal & General Pensions  
                                                        Limited (Direct)  (LGPL)  
                                                                                 
Proxy Voting:                                                                    
                                                                                 
10. Name of the proxy holder:                      N/A                           
                                                                                 
11. Number of voting rights proxy holder will      N/A                           
cease to hold:                                                                   
                                                                                 
12. Date on which proxy holder will cease to hold  N/A                           
voting rights:                                                                   
                                                                                 
                                                                                 
13. Additional information:                        Notification using total      
                                                   voting rights of 96,138,792   
                                                                                 
14. Contact name:                                  David Holland, Aberforth Partners LLP, 
                                                   Secretaries     
                                                                                 
15. Contact telephone number                       0131-220-0733