Net Asset Value(s)

SMALL COMPANIES DIVIDEND TRUST PLC                                                    
                                                                                      
The Company announces:                                                                
                                                                                      
Total Assets (including unaudited revenue reserves at 30 August 2013)                 
of £35.40m                                                                            
                                                                                      
Net Assets (including unaudited revenue reserves at 30 August 2013) of £26.39m        
                                                                                      
The Net Asset Value (NAV) at 30 August 2013 was:                                      
                                                                                      
                                                              Number of shares        
                                                                      in issue        
Per Ordinary share (bid price) - including                                            
unaudited current period revenue*                162.39p            16,250,000        
Per Ordinary share (bid price) - excluding                                            
current period revenue*                          159.36p                              
Ordinary share price                             153.50p                              
Discount to NAV                                  (5.47)%                              
Ordinary shares have an undated life                                                  
                                                                                      
ZDP share                                        106.06p            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 2013 to 30 August 2013               
                                                                                      
                                                                                      
Top 20 Holdings as at 30 August 2013 was:                                             
                                                                                      
                                                                                      
                Name of company                   % of portfolio                      
                                                                                      
1               Macfarlane Group                  2.82                                
2               Avesco Group                      2.79                                
3               GVC Holdings                      2.67                                
4               Jarvis Securities                 2.67                                
5               Marshalls                         2.51                                
6               ISG                               2.48                                
7               Cineworld Group                   2.44                                
8               St Ives                           2.32                                
9               Chesnara                          2.23                                
10              Wilmington Group                  2.19                                
11              Smiths News                       2.12                                
12              Randall & Quilter                 2.12                                
13              Personal Group                    2.11                                
14              Morgan Sindall                    2.11                                
15              Alumasc Group                     2.09                                
16              Photo-Me International            2.08                                
17              Braemar Shipping                  2.04                                
18              Clarke(T)                         2.02                                
19              Abbey Protection                  1.99                                
20              Sanderson Group                   1.98                                
                Balance held in 53 holdings       54.22                               
                                                  100.00