Transaction in Own Shares

ABERFORTH SMALLER COMPANIES TRUST plc Market Purchase by the Company of its own Ordinary Shares The Board of Aberforth Smaller Companies Trust plc ("ASCoT") hereby gives notification that, pursuant to the authority granted at the Annual General Meeting of the Company held on 4 March 2008 to make market purchases of the Company's own shares, a market purchase of 79,648 ordinary shares of the Company was made today at a price of 594.8075p per share. Following the purchase and cancellation of the above shares, 98,522,000 ordinary shares will remain in issue. 287,788 ordinary shares have been purchased and cancelled under the above authority. For further information contact: David Holland, Aberforth Partners LLP, telephone: 0131 220 0733. Aberforth Partners LLP, Secretaries - 21 May 2008 ANNOUNCEMENT ENDS
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