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 04 June 2009 was:

285.60p Capital only and including debt at par value
280.10p Capital only and including debt at fair value
288.33p Including current year income and debt at par value XD
282.84p Including current year income and debt at fair value XD

Notes:

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

2. The total number of ordinary shares in issue is 48,194,792, excluding 1,798,731 shares held in treasury.

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).