Net Asset Value(s)

Small Companies Dividend Trust PLC                                             
                                                                               
The Company announces:                                                         
                                                                               
Total Assets (including unaudited revenue reserves at 30/04/2015) of £42.28m   
                                                                               
Net Assets (including unaudited revenue reserves at 30/04/2015) of £32.35m     
                                                                               
                                                                               
                                                                               
The Net Asset Value (NAV) at 30/04/2015 was:                                   
                                                                               
                                                                      Number of
                                                                      shares in
                                                                         issue:
                                                                               
Per Ordinary share (bid price) - including                  195.46p  16,550,000
unaudited current period revenue*                                              
                                                                               
Per Ordinary share (bid price) - excluding current          190.97p            
period revenue*                                                                
                                                                               
Ordinary share price                                        162.25p            
                                                                               
Discount to NAV                                            (16.99)%            
                                                                               
Ordinary shares have an undated life                                           
                                                                               
                                                                               
                                                                               
ZDP share                                                   116.84p   8,500,000
                                                                               
ZDP share price                                             126.00p            
                                                                               
Premium to NAV                                                7.84%            
                                                                               
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 30/04/2015             

                                                    
                                                    
          Name of company                       % of
                                           portfolio
                                                    
1         Acal Plc Ordinary 5p                  2.78
                                                    
2         Connect Group Plc Ordinary 5p         2.52
                                                    
3         Clarke (T.) Plc Ordinary 10p          2.50
                                                    
4         Alumasc Group (The) Plc Ordinary      2.31
          12.5p                                     
                                                    
5         Kcom Group Plc Ordinary 10p           2.19
                                                    
6         Dairy Crest Group Plc Ordinary        2.17
          25p                                       
                                                    
7         Town Centre Securities Plc REIT       2.15
          25p                                       
                                                    
8         GVC Holdings Plc Common EUR0.01       2.10
                                                    
9         Braemar Shipping Services Plc         2.09
          GBp 10                                    
                                                    
10        Marston's Plc Ordinary 7.375p         2.07
                                                    
11        Avesco Group Plc Ordinary 10p         2.00
                                                    
12        Epwin Group Plc Ordinary 10p          1.98
                                                    
12        Stadium Group Plc Ordinary 5p         1.98
                                                    
14        Wilmington Plc Ordinary 5p            1.93
                                                    
15        Intermediate Capital Group Plc        1.88
          Ordinary 20p                              
                                                    
16        Macfarlane Group Plc Ordinary         1.84
          25p                                       
                                                    
17        Majestic Wine Plc Ordinary 7.5p       1.81
                                                    
18        Personal Group Holdings Plc           1.80
          Ordinary 5p                               
                                                    
19        DX Group Plc GBP0.01                  1.71
                                                    
20        Photo-Me International Plc            1.65
          Ordinary 0.5p