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 16 September 2010 were:
-                                                                           

Excluding Current Year Revenue = 630.62p                                    

Including ALL Revenue = 639.33p                                             

As at 16 September 2010, ASCoT held 83 investments, the largest of which    
represented 3.7% of total Shareholders' Funds.  The market value of         
investments was £664.7m and total Shareholders' Funds were £617.0m. 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 12.2% of 
Shareholders' Funds.  Current gearing is 7.7%.                              

The number of Ordinary Shares of 1p currently in issue is 96,514,873.       

Contact - David Holland (Tel: [phone])                                
Aberforth Partners LLP, Secretaries - 17 September 2010                     

ANNOUNCEMENT ENDS