Net Asset Value(s)

Small Companies Dividend Trust PLC                                             
                                                                               
The Company announces:                                                         
                                                                               
Total Assets (including unaudited revenue reserves at 02/01/2015) of £39.74m   
                                                                               
Net Assets (including unaudited revenue reserves at 02/01/2015) of £29.99m     
                                                                               
                                                                               
                                                                               
The Net Asset Value (NAV) at 02/01/2015 was:                                   
                                                                               
                                                                      Number of
                                                                      shares in
                                                                         issue:
                                                                               
Per Ordinary share (bid price) - including unaudited      181.23p    16,550,000
current period revenue*                                                        
                                                                               
Per Ordinary share (bid price) - excluding current         178.4p              
period revenue*                                                                
                                                                               
Ordinary share price                                      158.00p              
                                                                               
Discount to NAV                                          (12.82)%              
                                                                               
Ordinary shares have an undated life                                           
                                                                               
                                                                               
                                                                               
ZDP share                                                 114.67p     8,500,000
                                                                               
ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018   
                                                                               
                                                                               
                                                                               
*Current period revenue covers the period 01/05/2014 to 02/01/2015