Top Ten Investments as at 30 June 2006

ABERFORTH SMALLER COMPANIES TRUST plc


The Board of Aberforth Smaller Companies Trust plc ("the Company") confirms that, as at 30 June 2006, the top ten
investments ranked by market value (based on bid prices) of the Company's total investable assets were as follows: -


Company                    Value (£)       Weight (%)      Accumulated (%)

Greggs                     20,323,680   2.9%            2.9%
Holidaybreak               16,448,443   2.3%            5.2%
BSS Group                  15,471,786   2.2%            7.4%
Headlam Group              15,061,887   2.2%            9.6%
Johnson Service Group      14,836,120   2.1%            11.7%
ITE Group                  14,728,137   2.1%            13.8%
Carillion                  14,723,479   2.1%            15.9%
Brown (N.) Group           13,743,722   2.0%            17.9%
Interserve                 13,217,540   1.9%            19.8%
Shanks Group               12,520,840   1.8%            21.6%


Contact for enquiries
David Holland
Aberforth Partners LLP
0131 220 0733

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