Net Asset Value(s)

SMALL COMPANIES DIVIDEND TRUST PLC                                     
                                                                       
                                                        
                                                                       
The Company announces:                                                 
                                                                       
Total Assets (including unaudited revenue reserves at 07 February      
2014)                                                                  
of £40.35m                                                             
                                                                       
Net Assets (including unaudited revenue reserves at 07 February 2014)  
of £31.11m                                                             
                                                                       
The Net Asset Value (NAV) at 07 February 2014 was:                     
                                                                       
                                                              Number of      
                                                              shares in
                                                                issue

                                                             
Per Ordinary share (bid price) - including                             
unaudited current period revenue*                187.95p      16,550,000    
Per Ordinary share (bid price) - excluding                             
current period revenue*                          182.09p               
Ordinary share price                             179.25p               
Discount to NAV                                  (4.63)%               
Ordinary shares have an undated life                                   
                                                                       
ZDP share                                        108.80p      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 07 February   
2014, including a one off special dividend from Avesco PLC of £        
500,500 equivalent to 3.02 pence per Ordinary share.