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 7 March 2012 to make market purchases of the
Company's own shares, a market purchase of 40,000 Ordinary shares of the
Company was made today, 30 April 2012, at a price of 623.53p per share.

Following the purchase and cancellation of the above shares, 96,058,792
Ordinary shares will remain in issue. A total of 80,000 Ordinary shares have
been purchased and cancelled under the above authority.

For further information contact: David Holland, Aberforth Partners LLP,

telephone: [phone].

Aberforth Partners LLP, Secretaries - 30 April 2012