Net Asset Value(s)

ABERFORTH SMALLER COMPANIES TRUST plc ("ASCoT")                             

Net Asset Values ("NAVs") per Ordinary Share for the above company -        
calculated using a bid pricing basis for the securities held on the         
company's portfolio - as at the close of business on 19 August 2010 were:-  

Excluding Current Year Revenue = 592.83p                                    

Including ALL Revenue = 599.25p                                             

As at 19 August 2010, ASCoT held 84 investments, the largest of which       
represented 3.9% of total Shareholders' Funds.  The market value of         
investments was £631.6m and total Shareholders' Funds were £579.8m. Details 
of the top 50 holdings, the portfolio's sectoral composition and other      
general information can be found on the Aberforth website at http://        
www.aberforth.co.uk.                                                        

ASCoT has bank debt facilities available to allow gearing of up to 12.9% of 
Shareholders' Funds.  Current gearing is 8.9%.                              

The number of Ordinary Shares of 1p currently in issue is 96,747,000.       

Contact - David Holland (Tel: [phone])                                
Aberforth Partners LLP, Secretaries - 20 August 2010                        

ANNOUNCEMENT ENDS