Portfolio Update

BLACKROCK SMALLER COMPANIES TRUST PLC

All information is at 28 February 2013 and unaudited.

Performance at month end is calculated on a capital only basis

                                One    Three       One      Three      Five
                              Month   Months      Year      Years     Years
Net asset value                5.9%    14.5%     16.4%      89.9%     74.6%
Share price                    5.3%    16.3%     24.6%     113.3%     84.3%
Numis ex Inv Companies + AIM   3.9%    12.0%     12.3%      39.7%     17.9%

Sources:  BlackRock and Datastream

At month end
Net asset value Capital only (debt at par value):     712.45p
Net asset value Capital only (debt at fair value):    707.03p
Net asset value incl. Income (debt at par value)**:   720.48p
Net asset value incl. Income (debt at fair value)**:  715.06p
Share price:                                          626.50p
Discount to Cum Income NAV (debt at par value):         13.0%
Discount to Cum Income NAV (debt at fair value):        12.4%
Net yield:                                               1.5%
Total assets^:                                        £376.5m
Net gearing incl. Income (debt at fair value):           9.1%
2012 Total Expense Ratio ("TER")^^:                      0.7%
Ordinary shares in issue#:                         47,879,792

*performance calculations based on a capital only NAV with debt at par, without
income reinvested. Share price performance calculations exclude income
reinvestment.
**includes net revenue of 8.03p
^includes current year revenue
^^As reported in the Annual Financial Statements for the year ended
29 February 2012, the TER is calculated as a percentage of net assets and using
operating expenses, excluding performance fees, finance costs and taxation.
#excludes 2,113,731 shares held in treasury

Ten Largest Sector
Weightings                         % of total assets

Support Services                                 8.6
Software & Computer Services                     8.4
Financial Services                               7.9
General Retailers                                6.2
Electronic & Electrical Equipment                6.0
Oil & Gas Producers                              5.8
Industrial Metals & Mining                       5.7
Chemicals                                        5.7
Household Goods & Home Construction              5.3
Media                                            5.3
                                                ----
Total                                           64.9
                                                ====

Ten Largest Equity Investments (in alphabetical order)
Company

Ashtead
AZ Electronic Materials
Bellway
Booker Group
Howden Joinery
ITE Group
Oxford Instruments
Senior
Victrex
Workspace
 
Commenting on the markets, Mike Prentis, representing the Investment Manager
noted:

During February the Company's NAV per share increased by 5.9% on a capital only
basis whilst the benchmark index increased by 3.9%. The FTSE 100 Index
increased by 1.3%.

The relative contribution from stock selection was strongly positive, with
minimal contribution from sector allocation. We have maintained gearing at 9 -
10% which was helpful during a month of good gains.

The positive contribution from stock selection included significant
contributions from Blinkx and Senior. Blinkx announced in a trading update that
it has had a very strong first half, which had continued into the current
quarter and management are confident this will be sustained for the full year.
Forecasts were increased significantly. Senior announced strong full year
results with earnings per share up 22% and are confident looking forward. We
saw good share price performance from a number of other key holdings including
Optimal Payments, Ashtead, Howden Joinery and Fidessa. No one holding made a
significantly negative contribution during the month.

Activity during the month was limited.

The results season to date has gone well and companies seem to be coping with
the uncertain macro-economic environment. We see the recent fall in the pound
as being helpful to many of our more internationally focused holdings, although
many of these will have hedged a significant part of their currency exposure
for the current year.

14 March 2013

ENDS

Latest information is available by typing www.blackrock.co.uk/brscon the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal).  Neither the contents of the Manager's website nor the contents of
any website accessible from hyperlinks on the Manager's website (or any other
website) is incorporated into, or forms part of, this announcement.