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 5 February 2010 was:

368.54p Capital only and including debt at par value
364.27p Capital only and including debt at fair value
373.69p Including current year income and debt at par value
369.42p Including current year income and debt at fair value

Notes:

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

2. 300,000 ordinary shares were purchased on 9 April 2009 and a further 250,000
and 65,000 shares on 4 February 2010 and 5 February 2010 respectively, 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).