Net Asset Value(s)

SMALL COMPANIES DIVIDEND TRUST PLC                                                                      
                                                                        
The Company announces:

Total Assets (including unaudited revenue reserves at 04 April 2014) of £41.05m

Net Assets (including unaudited revenue reserves at 04 April 2014) of £31.72m

The Net Asset Value (NAV) at 04 April 2014 was:

                                                              Number of shares
                                                                      in issue
Per Ordinary share (bid price) - including
unaudited current period revenue*                191.63p            16,550,000
Per Ordinary share (bid price) - excluding
current period revenue*                          185.88p
Ordinary share price                             182.50p
Discount to NAV                                  (4.76)%
Ordinary shares have an undated life
ZDP share                                        109.78p            8,500,000
ZDP share price                                  117.00p         
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 04 April 2014,
 including a one off special dividend from Avesco PLC of £500,500 equivalent
 to 3.02 pence per Ordinary share.