Bank Facility

Small Companies Dividend Trust PLC

The Board of Small Companies Dividend Trust PLC ("the Company") announces that
it has repaid its £5m fixed loan which matured on 30 March 2007 with Lloyds TSB
PLC ("the Bank"). Following the repayment, the Company has increased the
overdraft facility to a total of £6.5m with effect from today.

In order to maintain a moderate level of gearing following the redemption of
the zero dividend preference shares on 30 April 2007, the Board intends to take
another fixed loan facility of up to £10m and to restrict the borrowing
arrangements with the Bank, so as to limit the total amount of borrowings, to
below 30 per cent. of total assets at the time of draw down. The total gearing
will reduce from approximately 32% presently to 28% based on total assets as at
30 March 2007. [DEL::DEL]

The Bank has approved the increase in the Bank Loan facilities, subject to
completion of formal documentation.

5 April 2007