Dividend Declaration

SMALL COMPANIES DIVIDEND TRUST PLC

The Company has today declared a fourth interim dividend in respect of the year
1 May 2004 to 30 April 2005.

The fourth interim dividend of 3.70p net per Ordinary share will be paid on 30
June 2005 to the holders of Ordinary shares on the register at 10 June 2005.

31 May 2005