Net Asset Value(s)

SMALL COMPANIES DIVIDEND TRUST PLC                                                                      
                                                                        
"The Company announces:

Total Assets (including unaudited revenue reserves at 21 February 2014)
of £41.28m

Net Assets (including unaudited revenue reserves at 21 February 2014) of £32.01m

The Net Asset Value (NAV) at 21 February 2014 was:

                                                              Number of shares
                                                                      in issue
Per Ordinary share (bid price) - including
unaudited current period revenue*                193.44p            16,550,000
Per Ordinary share (bid price) - excluding
current period revenue*                          187.61p
Ordinary share price                             183.75p
Discount to NAV                                  (5.01)%
Ordinary shares have an undated life

ZDP share                                        109.05p            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 21 February 2014,
 including a one off special dividend from Avesco PLC of £500,500 equivalant to
 3.02 pence per Ordinary share.