Net Asset Value(s)

SMALL COMPANIES DIVIDEND TRUST PLC                                                         
                                                                                           
The Company announces:                                                                     
                                                                                           
Total Assets (including unaudited revenue reserves at 08 March 2013)                       
of £31.08m                                                                                 
                                                                                           
Net Assets (including unaudited revenue reserves at 08 March 2013) of £22.31m              
                                                                                           
The Net Asset Value (NAV) at 08 March 2013 was:                                            
                                                                                           
                                                              Number of shares             
                                                                      in issue             
Per Ordinary share (bid price) - including                                                 
unaudited current period revenue*                137.31p            16,250,000             
Per Ordinary share (bid price) - excluding                                                 
current period revenue*                          134.49p                                   
Ordinary share price                             122.00p                                   
Discount to NAV                                  (11.15)%                                  
Ordinary shares have an undated life                                                       
                                                                                           
ZDP share                                        103.13p            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 08 March 2013