Net Asset Value(s)

NET ASSET VALUE

BLACKROCK SMALLER COMPANIES TRUST PLC

The unaudited net asset value for BlackRock Smaller Companies Trust plc at
close of business on 21 February 2011 was:

620.58p Capital only and including debt at par value
616.34p Capital only and including debt at fair value
626.97p Including current year income and debt at par value
622.73p Including current year income and debt at fair value

Notes:

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

2. 250,000 ordinary shares were purchased on 4 February 2010 and a further
65,000 shares on 5 February 2010, bringing the total amount of ordinary shares
held in treasury to 2,113,731. The total number of ordinary shares in issue
excluding treasury shares is 47,879,792.

3. 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).