AGM Statement

Aberforth Smaller Companies Tst PLC
27 February 2002


ABERFORTH SMALLER COMPANIES TRUST plc


ANNUAL GENERAL MEETING HELD ON 26 FEBRUARY 2002


The Board of Aberforth Smaller Companies Trust plc ('ASCoT') is pleased to
announce that all the resolutions proposed at the Annual General Meeting held on
26 February 2002 were passed by Shareholders on a unanimous show of hands.  A
total of 48,937,042 proxy votes were received, representing 58.5% of the
83,630,941 Ordinary Shares in issue, in respect of all eight resolutions at the
meeting.

In particular, the Special Business of the Meeting comprised:

(a)  an Ordinary Resolution, in accordance with ASCoT's Articles of Association,
that ASCoT continues to manage its affairs as an investment trust (as defined in
Section 842 of the Income and Corporation Taxes Act 1988) for which 48,937,042
proxy votes were received of which 99.5% voted in favour; and

(b)  a Special Resolution to enable ASCoT to purchase up to 14.99% (12,536,278)
of its Ordinary Shares of 1p currently in issue for which 48,937,042 proxy votes
were received of which 99.6% voted in favour.


CONTACT:     John Evans         Aberforth Partners         0131 220 0733


Aberforth Partners, Secretaries - 27 February 2002



ANNOUNCEMENT ENDS



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