Result of AGM

SMALL COMPANIES DIVIDEND TRUST PLC

The Company announces the results of the Annual General Meeting held on 27
September 2007, as follows:

Resolution 1, to receive the Report of the Directors and the audited financial
statements for the year ended 30 April 2007, was passed.

Proxy votes received on resolution 1 were:

For 4,649,053, none against, none discretionary and no votes withheld.

Resolution 2, to receive and approve the Directors' remuneration report, was
passed.

Proxy votes received on resolution 2 were:

For 3,391,983, 7,070 against, none discretionary and 1,250,000 votes withheld.

Resolution 3, to re-elect Mr D Harris as a Director, was passed.

Proxy votes received on resolution 3 were:

For 3,399,053, none against, none discretionary and 1,250,000 votes withheld.

Resolution 4, to re-elect Mr W van Heesewijk as a Director, was passed.

Proxy votes received on resolution 4 were:

For 2,083,156, 1,315,897 against, none discretionary and 1,250,000 votes
withheld.

Resolution 5, to re-appoint Hazlewoods LLP as Auditors and to authorise the
Directors to determine their remuneration, was passed.

Proxy votes received on resolution 5 were:

For 4,649,053, none against, none discretionary and no votes withheld.

Resolution 6, authority to allot shares under Section 80 of the Companies Act
1985, was passed.

Proxy votes received on resolution 6 were:

For 3,396,053, none against, 3,000 discretionary and 1,250,000 votes withheld.

Resolution 7, was withdrawn.

Resolution 8, authority to buyback shares, was passed.

Proxy votes received on resolution 8 were:

For 4,649,053, none against, none discretionary and no votes withheld.

Resolution 9, was withdrawn.

28 September 2007