Interim Management Statement

BlackRock Smaller Companies Trust plc

Interim Management Statement - 3 months to 30 November 2013

To the members of BlackRock Smaller Companies Trust plc

This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure & Transparency Rules. 
It should not be relied on by any other party for any other reason.

This interim management statement relates to the period from 1 September 2013
to 30 November 2013, and contains information that covers this period, and up
to the date of publication of this interim management statement. Please note
more detailed performance information is available on the Manager's website - 
www.blackrock.co.uk/brsc.

The Company invests mainly in smaller UK quoted companies, and seeks to achieve
long term capital growth for shareholders. The Company is managed by Mike
Prentis of BlackRock.

Stock Performance

Cumulative Performance to 30 November 2013:

                                     One    Three      One     Three       Five
                                   Month   Months     Year     Years      Years
                                       %        %        %         %          %
Net Asset Value*                     3.2     11.8     43.0      65.9      288.0
Share Price*                         2.7     13.6     55.6      85.0      417.3
Numis ex Inv Trust + AIM*            1.1      7.4     28.3      38.0      158.5

*performance calculations based on a capital only NAV with debt at par, without
income reinvested. Share price performance calculations exclude income
reinvestment.

Ten Largest Equity Holdings at 30 November 2013

Company              Total Market Value %

Bellway                       2.2
Booker Group                  1.9
Workspace                     1.9
Senior                        1.8
ITE Group                     1.8
Optimal Payments              1.7
Howden Joinery                1.7
XAAR                          1.6
Polar Capital Holdings        1.6
Dunelm Group                  1.5

Financial position and performance as at 30 November 2013

Total Assets (£m)*                                       469.7
Short term borrowings (£m)                                 nil
Long term borrowings - 3 year multi-currency                  
facility (Scotia (Ireland) Limited) (£m)                  25.0
7.75% Debenture 2022 at par value (£m)                    14.9
7.75% Debenture 2022 at fair value (£m)                   18.4
Net asset value - capital only (at par)                889.96p
Net asset value - capital only (at fair                
value)                                                 882.49p
Net asset value - cum income (at par)*                 897.69p
Net asset value - cum income (at fair value)*          890.22p
Share Price                                            838.00p
Ordinary Shares in Issue**                          47,879,792
Net gearing including Income (debt at par               
value)                                                   10.4%
Discount to Cum Income NAV (debt at par                  
value)                                                    6.6%
Discount to Cum Income NAV (debt at fair                 
value)                                                    5.9%
Average Discount over the Period***                       7.0%
                                                              
*Includes current year revenue                                
** Excluding 2,113,731 shares held in                         
treasury                                                      
***calculation based on cum income NAV with debt at par       

Half Yearly Financial Results

The Company announced its half yearly financial results for the period ended 
31 August 2013 on 24 October 2013.

Interim Dividend

An interim dividend in respect of the period ended 31 August 2013 of 4.60p per
ordinary share was recommended by the Directors. The dividend was paid on 
29 November 2013 to shareholders on the register on 1 November 2013 (ex dividend
date 30 October 2013).

Net Asset Value

The Company announces its NAV on a daily basis, which can be accessed via http:
//www.blackrock.co.uk/brsc, under the "News" tab.

The unaudited net asset value for BlackRock Smaller Companies Trust plc at
close of business on 18 December 2013 was:

Capital only debt at par:  894.81p
Including current year income debt at par:  903.63p
Capital only debt at fair value:  887.35p
Including current year income debt at fair value:  896.16p

Material Events & Transactions

There were no material events or transactions during the three months to 
30 November 2013, other than the purchase and sale of securities undertaken 
in the normal course of business.

The Board is not aware of any significant events or transactions, except as
disclosed herein, occurring between 30 November 2013 and the date of
publication of this interim management statement which would have a material
impact on the financial position of the Company.

Contact details:

Sarah Beynsberger
Secretary
Tel: [phone]

19 December 2013

ENDS

Please note that more detailed information is available on the Investment
Manager's website, www.blackrock.co.uk/brsc. Neither the contents of the
Manager's website nor the contents of any website accessible from hyperlinks 
on the Manager's website (or any other website) is incorporated into, or forms
part of, this announcement.

Latest information is also available by typing, "BLRKINDEX" on Reuters, "BLRK"
on Bloomberg or "8800" on Topic 3 (ICV terminal).