Correction : Net Asset Value(s)

It has come to the attention of the Company that the NAV released on 13 May
2008 was misstated. The announcement should have read as follows. All other
information remains the same. This announcement replaces PRNUK-1305.



NET ASSET VALUE

BLACKROCK SMALLER COMPANIES TRUST PLC

The unaudited net asset value for BlackRock Smaller Companies Trust plc at
close of business on 12 May 2008 was:

434.24p (capital only and including debt at par value)

429.69p (capital only and including debt at fair value)

434.24p (capital only and including debt at par value - diluted for treasury
shares)

429.69p (capital only and including debt at fair value - diluted for treasury
shares)

Notes:

1. Investments have been valued on a bid price basis.

2. 100,000 ordinary shares purchased on 15 January 2008, bringing the total
amount of ordinary shares held in treasury to 1,483,815.

3. The net asset value above has been calculated based on 48,509,708 ordinary
shares.

4. For the latest daily net asset value, previous month end performance
statistics, asset allocation and ten largest holdings of the BlackRock managed
Investment Trusts, see BLRKINDEX on Reuters or page 8800 on ICB (Topic 3).