Net Asset Value(s)

SMALL COMPANIES DIVIDEND TRUST PLC                                                         
                                                                                           
The Company announces:                                                                     
                                                                                           
Total Assets (including unaudited revenue reserves at 14 June 2013) of £32.55m

Net Assets (including unaudited revenue reserves at 14 June 2013) of £23.64m               
                                                                                           
The Net Asset Value (NAV) at 14 June 2013 was:                                             
                                                                                           
                                                              Number of shares             
                                                                      in issue             
Per Ordinary share (bid price) - including                                                 
unaudited current period revenue*                145.49p            16,250,000             
Per Ordinary share (bid price) - excluding                                                 
current period revenue*                          140.81p                                   
Ordinary share price                             136.00p                                   
Discount to NAV                                  (6.52)%                                   
Ordinary shares have an undated life                                                       
                                                                                           
ZDP share                                        104.75p            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 14 June 2013