Issue of Equity

SMALL COMPANIES DIVIDEND TRUST PLC

Allotment of Ordinary Shares

Small Companies Dividend Trust PLC (the 'Company') today announces 500,000
Ordinary shares of 25p each have been allotted by the Company. Application has
been made to the FSA for the Ordinary shares to be admitted to the Official
List and to the London Stock Exchange for the Ordinary shares to be admitted to
trading on the London Stock Exchange's market for listed securities.

The total number of Ordinary shares in issue now stands at 16,250,000.

Enquiries:


Chelverton Asset Management Limited

Tel: [phone]

26 October 2005