Holding(s) in Company

TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

SMALL COMPANIES DIVIDEND TRUST PLC

2. Reason for the notification                                        State    
                                                                     Yes/No    
                                                                               
An acquisition or disposal of voting rights                            Yes     
                                                                               
An acquisition or disposal of financial instruments which may                  
result in the                                                                  
acquisition of shares already issued to which voting rights are                
attached                                                                       
                                                                               
An event changing the breakdown of voting rights                               
                                                                               
Other (please specify):                                                        

3. Full name of person(s) subject to the notification obligation   London & St 
(iii):                                                              Lawrence   
                                                                   Investment  
                                                                   Company plc 
                                                                               
4. Full name of shareholder(s) (if different from 3.) (iv):                    
                                                                               
5. Date of the transaction (and date on which the threshold is                 
crossed                                                                        
or reached if different) (v):                                                  
                                                                               
6. Date on which issuer notified:                                  20 February 
                                                                      2007     
                                                                               
7. Threshold(s) that is/are crossed or reached:                        10%     
                                                                               
8. Notified details:                                                           
                                                                               

A: Voting rights attached to shares

 Class/type of  Situation previous   Resulting situation after the triggering  
    shares              to                      transaction (vii)              
  if possible     the Triggering                                               
using the ISIN   transaction (vi)                                              
     CODE                                                                      
                                                                               
                 Number   Number    Number  Number of voting     % of voting   
                   of       of        of       rights (ix)         rights      
                 Shares   Voting    shares                                     
                          Rights                                               
                          (viii)                                               
                                                                               
                                    Direct   Direct  Indirect  Direct  Indirect
                                              (x)      (xi)                    
                                                                               
 GB0006615826   1625000   1625000  1625000  1625000            10.0%           
                                                                               

B: Financial Instruments

Resulting situation after the triggering transaction (xii)

   Type of     Expiration  Exercise/Conversion    Number of voting      % of   
  financial   date (xiii)  Period/ Date (xiv)    rights that may be    voting  
 instrument                                       acquired if the      rights  
                                                     instrument                
                                               is exercised/converted          
                                                                               

Total (A+B)                                                                    
                                                                               
Number of voting rights                 % of voting rights                     
                                                                               
1,625,000                               10.0%                                  

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable (xv):

London & St Lawrence Investment Company plc                                    
                                                                               
Consistent Unit Trust Management Company Ltd                                   

Proxy Voting:

10. Name of the proxy holder:                                                  
                                                                               
11. Number of voting rights proxy holder will cease to hold:                   
                                                                               
12. Date on which proxy holder will cease to hold voting                       
rights:                                                                        

13. Additional information:                                                    
                                                                               
14. Contact name:                                             Ms J M Sculley   
                                                                               
15. Contact telephone number:                                 01892 824445     

Annex Notification Of Major Interests In Shares (xvi)


A: Identity of the person or legal entity subject to the                       
notification obligation                                                        
                                                                               
Full name (including legal form for legal entities)           London & St      
                                                              Lawrence         
                                                              Investment       
                                                              Company plc      
                                                                               
Contact address (registered office for legal entities)        190 Strand London
                                                              WC2R 1JN         
                                                                               
Phone number                                                  01892 824445     
                                                                               
Other useful information (at least legal representative for                    
legal persons)                                                                 
                                                                               
B: Identity of the notifier, if applicable (xvii)                              
                                                                               
Full name                                                                      
                                                                               
Contact address                                                                
                                                                               
Phone number                                                                   
                                                                               
Other useful information (e.g. functional relationship with                    
the person                                                                     
or legal entity subject to the notification obligation)                        

C: Additional information