Net Asset Value(s)

ABERFORTH SMALLER COMPANIES TRUST plc ("ASCoT")                             

Net Asset Values ("NAVs") per Ordinary Share for the above company as at the
close of business on 10 March 2011 were:-                                   

Excluding Current Year Revenue = 760.23p                                    

Including ALL Revenue = 763.50p                                             

ASCoT has bank debt facilities available to allow gearing of up to 10.2% of 
Shareholders' Funds.  Current gearing is 8.0%.There are currently 96,366,792
Ordinary Shares of 1p in issue.                                             

Contact - David Holland (Tel: [phone])                                
Aberforth Partners LLP, Secretaries - 11 March 2011                         

ANNOUNCEMENT ENDS