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 31 March 2010 were:-

Excluding Current Year Revenue = 622.38p

Including ALL Revenue = 621.17p

As at 31 March 2010, ASCoT held 86 investments, the largest of
which represented 2.8% of total Shareholders' Funds.  The market
value of investments was £665.4m and total Shareholders' Funds
were £601.7m. 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 12.5% of Shareholders' Funds.  Current gearing is 10.6%.

The number of Ordinary Shares of 1p currently in issue is
96,867,000.

The Board announced on 4 March 2010 a first interim dividend of
6.0p per ordinary share in respect of the year ending 31
December 2010, payable on 1 April 2010 to shareholders on the
register at close of business on 12 March 2010. The ex-dividend
date was 10 March 2010. The Board believes that it is in
shareholders' interests to accelerate the timing of this year's
first interim dividend and therefore this dividend is intended
to replace the first interim dividend that would normally be
paid in August 2010. It is anticipated that future dividend
payments will be paid in line with the normal dividend schedule.



Contact - David Holland (Tel: [phone])
Aberforth Partners LLP, Secretaries - 1 April 2010
ANNOUNCEMENT ENDS