Revised Investment Management Fee

Aberforth Smaller Companies Trust plc

Revised Investment Management Fee

The Board of Aberforth Smaller Companies Trust plc is pleased to announce that
it has agreed a revised tariff with Aberforth Partners LLP, its Investment
Managers.

With effect from 1 July 2015, Aberforth Partners LLP will receive an annual
management fee, payable quarterly in advance, equal to: 0.75% of the net assets
of the Company up to £1 billion, plus 0.65% of net assets of the Company
greater than £1 billion (if any).

For further information contact:

Alistair Whyte, Aberforth Partners LLP, telephone: [phone]

Aberforth Partners LLP, Secretaries - 13 May 2015