Net Asset Value(s)

SMALL COMPANIES DIVIDEND TRUST PLC                                                       
                                                                                         
The Company announces:                                                                   
                                                                                         
Total Assets (including unaudited revenue reserves at 30 April 2013)                     
of £31.41m                                                                               
                                                                                         
Net Assets (including unaudited revenue reserves at 30 April 2013) of £22.57m            
                                                                                         
The Net Asset Value (NAV) at 30 April 2013 was:                                          
                                                                                         
                                                              Number of shares           
                                                                      in issue           
Per Ordinary share (bid price) - including                                               
unaudited current period revenue*                138.89p            16,250,000           
Per Ordinary share (bid price) - excluding                                               
current period revenue*                          136.12p                                 
Ordinary share price                             128.50p                                 
Discount to NAV                                  (7.48)%                                 
Ordinary shares have an undated life                                                     
                                                                                         
ZDP share                                        104.00p            8,500,000            
ZDP shares are held in a subsidiary and have a redemption date                           
of 8 January 2018                                                                        
                                                                                         
*Current period revenue covers the period 01 May 2012 to 30 April 2013                   
                                                                                         
                                                                                         
Top 20 Holdings as at 30 April 2013 was:                                                 
                                                                                         
                                                                                         
         Name of company                                 % of portfolio                  
                                                                                         
1        Macfarlane Group                                3.21                            
2        Avesco Group                                    3.02                            
3        GVC Holdings                                    2.73                            
4        St Ives                                         2.45                            
5        Marshalls                                       2.44                            
6        Randall & Quilter                               2.37                            
7        Intermediate Capital Group                      2.36                            
8        Smiths News                                     2.29                            
9        Chesnara                                        2.29                            
10       Sanderson Group                                 2.28                            
11       Portmeirion Group                               2.22                            
12       Dairy Crest Group                               2.20                            
13       Braemar Shipping                                2.11                            
14       Jarvis Securities                               2.10                            
15       Personal Group                                  2.10                            
16       Abbey Protection                                2.08                            
17       Morgan Sindall                                  2.02                            
18       Brown (N) Group                                 1.99                            
19       Photo-Me International                          1.99                            
20       Wilmington Group                                1.93                            
         Balance held in 51 holdings                     53.82                           
                                                         100.00