Holding in Company

Aberforth Smaller Companies Tst PLC
19 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:
Scottish Widows Investment Partnership Group Limited

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 a non-beneficial interest of the person 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:
RBSTB Nominees Ltd A/c SW = 3,153,701
Vidacos Nominees Ltd = 17,528

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:
N/A

8   Percentage of issued class:
N/A

9   Class of security:
Ordinary Shares of 1p

10  Date of transaction:
N/A

11  Date company informed:
19 January 2001

12  Total holding following this notification:
3,171,229

13  Total percentage holding of issued class following this notification:
3.81%

14  Contact name for queries:
Angus McCallum

15 Contact telephone number:
0131 220 0733

16  Name of company official responsible for making notification:
Angus McCallum

17  Date of notification:
19 January 2001


Additional Information:

This notification is also made on behalf of Lloyds TSB Group plc, Lloyds TSB
Bank plc and Scottish Widows Group Limited who are deemed to be interested in
these shares as, like Scottish Widows Investment Partnership, they are all
companies within the Lloyds TSB Group of Companies.