Net Asset Value(s)

ABERFORTH SMALLER COMPANIES TRUST plc ("ASCoT")


The 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 12 September 2007 were:-

Excluding Current Year Revenue = 831.27p

Including ALL Revenue = 839.00p


As at 12 September 2007, ASCoT held 104 investments, the largest of which represented 3.3% of investable assets.  The
market value of investments was £825.1m and total Shareholders' Funds were £829.0m.  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 9.7% of Shareholders' Funds.  Current gearing is
0.0%.

The number of Ordinary Shares of 1p currently in issue is 98,809,788.

Dividends are paid, semi-annually, to Ordinary Shareholders with the interim announced each July and paid in September
and the final announced each January and paid in March.


Contact - David Holland (Tel: [phone])
Aberforth Partners LLP, Secretaries - 13 September 2007


ANNOUNCEMENT ENDS