Net Asset Value(s)

SMALL COMPANIES DIVIDEND TRUST PLC

The Company announces:

Total Assets (including unaudited revenue reserves at 07 September 2012) of £
27.13m

Net Assets (including unaudited revenue reserves at 07 September 2012) of £
17.58m

The Net Asset Value (NAV) at 07 September 2012 was:

                                                              Number of shares
                                                                      in issue
                                                                              
Per Ordinary share (bid price) -                   108.19p          16,250,000
including                                                                     
                                                                              
unaudited current period revenue*                                             
                                                                              
Per Ordinary share (bid price) -                    107.31p                   
excluding                                                                     
                                                                              
current period revenue*                                                       
                                                                              
Ordinary share price                               94.75p                     
                                                                              
Discount to NAV                                   (12.42)%                    
                                                                              
Ordinary shares have an undated life                                          
                                                                              
ZDP share                                         100.18p            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 1 May 2012 to 07 September 2012 .