Net Asset Value(s)

Small Companies Dividend Trust PLC                                             
                                                                               
The Company announces:                                                         
                                                                               
Total Assets (including unaudited revenue reserves at 24/04/2015) of £42.35m   
                                                                               
Net Assets (including unaudited revenue reserves at 24/04/2015) of £32.43m     
                                                                               
                                                                               
                                                                               
The Net Asset Value (NAV) at 24/04/2015 was:                                   
                                                                               
                                                                      Number of
                                                                      shares in
                                                                         issue:
                                                                               
Per Ordinary share (bid price) - including                  195.94p  16,550,000
unaudited current period revenue*                                              
                                                                               
Per Ordinary share (bid price) - excluding current          191.65p            
period revenue*                                                                
                                                                               
Ordinary share price                                        162.50p            
                                                                               
Discount to NAV                                            (17.07)%            
                                                                               
Ordinary shares have an undated life                                           
                                                                               
                                                                               
                                                                               
ZDP share                                                   116.73p   8,500,000
                                                                               
ZDP share price                                             126.00p            
                                                                               
Premium to NAV                                                7.94%            
                                                                               
ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018   

                                                                        
                                                                        
              Name of company                                       % of
                                                               portfolio
                                                                        
       1      Acal Plc Ordinary 5p                                  2.80
                                                                        
       2      Clarke (T.) Plc Ordinary 10p                          2.57
                                                                        
       3      Connect Group Plc Ordinary 5p                         2.45
                                                                        
       4      Alumasc Group (The) Plc Ordinary 12.5p                2.29
                                                                        
       5      Kcom Group Plc Ordinary 10p                           2.21
                                                                        
       6      Dairy Crest Group Plc Ordinary 25p                    2.16
                                                                        
       7      Town Centre Securities Plc REIT 25p                   2.16
                                                                        
       8      GVC Holdings Plc Common EUR0.01                       2.12
                                                                        
       9      Marston's Plc Ordinary 7.375p                         2.10
                                                                        
      10      Braemar Shipping Services Plc GBp 10                  2.06
                                                                        
      11      Avesco Group Plc Ordinary 10p                         2.00
                                                                        
      11      Stadium Group Plc Ordinary 5p                         2.00
                                                                        
      13      Epwin Group Plc Ordinary 10p                          1.98
                                                                        
      14      Wilmington Plc Ordinary 5p                            1.97
                                                                        
      15      Intermediate Capital Group Plc Ordinary 20p           1.94
                                                                        
      16      DX Group Plc GBP0.01                                  1.86
                                                                        
      16      Macfarlane Group Plc Ordinary 25p                     1.86
                                                                        
      18      Majestic Wine Plc Ordinary 7.5p                       1.82
                                                                        
      19      Personal Group Holdings Plc Ordinary 5p               1.80
                                                                        
      20      Photo-Me International Plc Ordinary 0.5p              1.71