Holding(s) in Company

NOTIFICATION OF MAJOR INTERESTS IN SHARES
1.Identity of the issuer or the   Aberforth Smaller Companies
underlying issuer of existing     Trust plc
shares to which voting rights are
attached:

2. Reason for the notification:
An acquisition or disposal of     N/A
voting rights
An acquisition or disposal of     N/A
financial instruments which may
result in the acquisition of
shares already issued to which
voting rights are attached
An event changing the breakdown   N/A
of voting rights
Other (please specify):           Yes - initial disclosure

3. Full name of person(s) subject Rensburg Sheppards Investment
to the notification obligation    Management Limited
4. Full name of shareholder(s)    N/A
(if different from 3.):

5. Date of the transaction (and   22/8/08
date on which the threshold is
crossed or reached if different):

6. Date on which issuer notified: 26/8/08

7. Threshold(s) that is/are       3%
crossed or reached:

8. Notified details:
A: Voting rights attached to shares
Class/typ  Situation         Resulting situation after the
e of       previous to the   triggering transaction
shares     Triggering
if         transaction
possible
using the
ISIN CODE
           Number   Number   Number  Number of         % of voting
           of       of       of      voting            rights
           Shares   Voting   Shares  rights
                    Rights
                                     Direct  Indirect  Direct  Indirect
Ordinary   -        -        -       n/a     3,083,774 n/a     3.18%
1p Shares
GB0000066554

B: Financial Instruments
Resulting situation after the triggering transaction
Type of   Expiration  Exercise/   Number of voting       % of voting
financial date        Conversion  rights that may be     rights
instrument            Period/     acquired if the
                      Date        instrument is
                                  exercised/ converted.
N/A       N/A         N/A         N/A                    N/A

Total (A+B)
Number of voting rights      % of voting rights
3,083,774                    3.18%

9. Chain of controlled undertakings through which the voting
rights and/or the financial instruments are effectively held, if
applicable
Clients holdings registered in the name of Nominee companies 100%
owned by Rensburg Sheppards Investment Management Limited

Proxy Voting:
10. Name of the proxy holder:          N/A

11. Number of voting rights proxy      N/A
holder will cease to hold:

12. Date on which proxy holder will    N/A
cease to hold voting rights:

13. Additional information:            N/A

14. Contact name:                      David Holland, Aberforth Partners LLP, Secretaries
                                       to Aberforth Smaller Companies Trust plc.
15. Contact telephone number           0131-220-0733