Holding(s) in Company

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

2. Reason for the notification:
An acquisition or disposal of     Yes
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):           N/A

3. Full name of person(s) subject Deutsche Bank AG
to the notification obligation

4. Full name of shareholder(s)    Deutsche Bank AG
(if different from 3.):

5. Date of the transaction (and   20/6/08
date on which the threshold is
crossed or reached if different):

6. Date on which issuer notified: 24/6/08

7. Threshold(s) that is/are       5%
crossed or reached:

8. Notified details:              Not disclosed
A: Voting rights attached to shares
Class/type  Situation             Resulting situation after the
of          previous to the       triggering transaction
shares if   Triggering
possible    transaction
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   Below 5% Below 5%      4,895,899  2,079,854 2,816,045  2.14%   2.89%
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
4,895,899                    5.03

9. Chain of controlled undertakings through which the voting
rights and/or the financial instruments are effectively held, if
applicable

N/A
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