Issue of Equity

Aberforth Smaller Companies Tst PLC
11 November 2003

Aberforth Smaller Companies Trust plc


Admission to the Official List


The Board of Aberforth Smaller Companies Trust plc (the 'Company') announces
today, 11 November 2003, that proceeds of £61.9 million have been received
pursuant to the scheme of reconstruction of Aberforth Split Level Trust plc (the
'Scheme'). Accordingly, dealings in 13,991,054 new Shares issued pursuant to the
Scheme, at an issue price of 442.24p (being the net asset value, including all
revenue reserves and current net revenue, as at the close of business on 7
November 2003), commenced at 8.00am today.  Certificates are expected to be
issued during the week commencing 17 November 2003.  Following the issue there
are 98,809,788  shares in issue.




Enquiries:


David Warnock/ David Holland                        0131 220 0733
Aberforth Partners



Capitalised words and expressions used in this announcement shall bear the same
meanings as in the prospectus dated 29 September 2003, a copy of which is
available in full at the document viewing facility of the UK Listing Authority.



END








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