Top Ten Investments

ABERFORTH SMALLER COMPANIES TRUST plc


The  Board  of Aberforth Smaller Companies Trust plc ("the Company")  confirms
that,  as at 31 December 2005, 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                17,385,066       2.6%          2.6%
JOHNSON SERVICE GROUP 16,024,450       2.4%          5.0%
BSS GROUP             15,630,300       2.3%          7.3%
RPC GROUP             14,956,627       2.2%          9.5%
ITE GROUP             14,445,508       2.2%         11.7%
HOLIDAYBREAK          14,118,187       2.1%         13.8%
GRAINGER TRUST        13,030,075       1.9%         15.7%
INTERSERVE            12,434,923       1.9%         17.6%
VIRGIN MOBILE HLDGS   12,302,720       1.8%         19.4%
(UK)
HEADLAM GROUP         11,856,672       1.8%         21.2%


Contact for enquiries
David Holland
Aberforth Partners
0131 220 0733

END