Holding(s) in Company

Aberforth Smaller Companies Tst PLC
22 May 2002

                                  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
Royal London Long Term 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 the 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
250,000


8)   Percentage of issued class
0.30%


9)   Class of security
Ordinary Shares of 1p


10)  Date of transaction
21 May 2002


11)  Date company informed
22 May 2002


12)  Total holding following this notification
2,484,699


13)  Total percentage holding of issued class following this notification
2.96%


14)  Any additional information
N/A


15)  Name of contact and telephone number for queries
Angus McCallum - 0131 220 0733

16)  Name and signature of authorised company official responsible for
     making this notification
Angus McCallum, for Aberforth Partners, Secretaries.


Date of notification - 22 May 2002




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