Holding in Company

Aberforth Smaller Companies Tst PLC
16 January 2001


Schedule 10 - Notification of Major Interests in Shares

1   Name of company:
Aberforth Smaller Companies Trust plc

2   Name of shareholder having a major interest:
Refuge Assurance plc Long Term Business Fund

3   Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-beneficial
interest or in the case of an individual holder if it is a holding of that
person's spouse or children under the age of 18:
Notification is in respect of holding of the shareholder named in 2 above

4   Name of registered holder(s) and, if more than one holder, the number of
shares held by each of them:
Chase Nominees Limited

5   Number of shares/amount of stock acquired:
N/A

6   Percentage of issued class:
N/A

7   Number of shares/amount of stock disposed:
459,000

8   Percentage of issued class:
0.55%

9   Class of security:
Ordinary Shares of 1p

10  Date of transaction:
12 January 2001

11  Date company informed:
15 January 2001

12  Total holding following this notification:
5,643,500

13  Total percentage holding of issued class following this notification:
6.78%

14  Contact name for queries:
Angus McCallum

15 Contact telephone number:
0131 220 0733

16  Name of company official responsible for making notification:
Gordon Young

17  Date of notification:
16 January 2001

Additional Information: