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 4 September 2015 were:-

Excluding current year Revenue = 1,260.37p

Including ALL Revenue = 1,279.02p

ASCOT has bank debt facilities available to allow gearing of up to 10.3% of Shareholders’ Funds.  Current gearing is 2.1%.  There are currently 95,159,792 Ordinary Shares of 1p in issue.

Contact – David Holland (Tel: [phone])

Aberforth Partners LLP, Secretaries – 7 September 2015