Net Asset Value(s)

Aberforth Smaller Companies Trust plc (“ASCOT”)

The Net Asset Values (“NAVs”) per Ordinary Share for the above company as at the close of business on 18 September 2015 were:-

Excluding current year Revenue = 1,257.40p

Including ALL Revenue = 1,277.19p

ASCOT has bank debt facilities available to allow gearing of up to 10.3% of Shareholders’ Funds.  Current gearing is 2.4%.  There are currently 95,159,792 Ordinary Shares of 1p in issue.

Contact – David Holland (Tel: [phone])

Aberforth Partners LLP, Secretaries – 21 September 2015