Net Asset Value(s)

ABERFORTH SMALLER COMPANIES TRUST plc ("ASCoT")


Net Asset Values ("NAVs") per Ordinary Share for the above
company - calculated using a bid pricing basis for the
securities held on the company's portfolio - as at the close of
business on 27 May 2010 were:-

Excluding Current Year Revenue = 593.82p

Including ALL Revenue = 597.24p

As at 27 May 2010, ASCoT held 88 investments, the largest of
which represented 3.9% of total Shareholders' Funds.  The market
value of investments was £629.2m and total Shareholders' Funds
were £577.8m. Details of the top 50 holdings, the portfolio's
sectoral composition and other general information can be found
on the Aberforth website at http://www.aberforth.co.uk.

ASCoT has bank debt facilities available to allow gearing of up
to 13.0% of Shareholders' Funds.  Current gearing is 8.9%.

The number of Ordinary Shares of 1p currently in issue is
96,747,000.





Contact - David Holland (Tel: [phone])
Aberforth Partners LLP, Secretaries - 28 May 2010
ANNOUNCEMENT ENDS