Portfolio Update

Aberforth Smaller Companies Trust plc

In accordance with UKLA Listing Rule 15.6.8R, the following represents the
Company's investments , as at 30 June 2013, in other UK listed closed-ended
investment funds (including REIT's) which themselves do not have a stated
investment policy to invest no more than 15% of their gross assets in other UK
listed closed-ended investment funds ( including REIT's):

                          % of the Company's
Name of Company                   Net Assets 
---------------------                 ------
Hansteen Holdings plc                    1.2
                                      ------
Total                                    1.2
                                      ------

The Company does not invest in any securities issued by investment trusts or 
investment companies with the exception of real estate investment trusts (REIT's).

For further information contact: David Holland, Aberforth Partners LLP,
telephone: [phone].

Aberforth Partners LLP, Secretaries - 1 July 2013