Net Asset Value(s)

Small Companies Dividend Trust PLC                                             
                                                                               
The Company announces:                                                         
                                                                               
Total Assets (including unaudited revenue reserves at 17/04/2015) of £42.59m   
                                                                               
Net Assets (including unaudited revenue reserves at 17/04/2015) of £32.68m     
                                                                               
                                                                               
                                                                               
The Net Asset Value (NAV) at 17/04/2015 was:                                   
                                                                               
                                                                      Number of
                                                                      shares in
                                                                         issue:
                                                                               
Per Ordinary share (bid price) - including                  197.44p  16,550,000
unaudited current period revenue*                                              
                                                                               
Per Ordinary share (bid price) - excluding current          193.47p            
period revenue*                                                                
                                                                               
Ordinary share price                                        163.63p            
                                                                               
Discount to NAV                                            (17.13)%            
                                                                               
Ordinary shares have an undated life                                           
                                                                               
                                                                               
                                                                               
ZDP share                                                   116.60p   8,500,000
                                                                               
ZDP share price                                             126.00p            
                                                                               
Premium to NAV                                                8.06%            
                                                                               
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 17/04/2015             
                                                                               
                                                                               

          Name of company                               % of
                                                   portfolio
                                                            
1         Clarke (T.) Plc Ordinary 10p                  2.60
                                                            
2         Acal Plc Ordinary 5p                          2.54
                                                            
3         Alumasc Group (The) Plc Ordinary              2.43
          12.5p                                             
                                                            
4         Connect Group Plc Ordinary 5p                 2.38
                                                            
5         Kcom Group Plc Ordinary 10p                   2.24
                                                            
6         Town Centre Securities Plc REIT 25p           2.19
                                                            
7         GVC Holdings Plc Common EUR0.01               2.09
                                                            
8         Marston's Plc Ordinary 7.375p                 2.07
                                                            
9         Avesco Group Plc Ordinary 10p                 2.06
                                                            
10        Stadium Group Plc Ordinary 5p                 2.05
                                                            
11        Braemar Shipping Services Plc GBp 10          2.04
                                                            
12        Wilmington Plc Ordinary 5p                    1.94
                                                            
13        Intermediate Capital Group Plc                1.90
          Ordinary 20p                                      
                                                            
14        Dairy Crest Group Plc Ordinary 25p            1.89
                                                            
15        Macfarlane Group Plc Ordinary 25p             1.86
                                                            
16        Shoe Zone (Holdings) Limited Ordinary         1.85
          1p                                                
                                                            
17        Personal Group Holdings Plc Ordinary          1.81
          5p                                                
                                                            
18        Majestic Wine Plc Ordinary 7.5p               1.78
                                                            
19        Epwin Group Plc Ordinary 10p                  1.76
                                                            
20        Photo-Me International Plc Ordinary           1.76
          0.5p