ASL Aberforth Smaller Companies Trust Plc

Aberforth Smaller Companies Trust plc ("ASCOT")

The Net Asset Values ("NAVs") per Ordinary Share for the above company as at
the close of business on 27 August 2014 were:-

Excluding current year Revenue = 1,179.51p

Including ALL Revenue = 1,189.65p

ASCOT has bank debt facilities available to allow gearing of up to 11.0% of
Shareholders' Funds. Current gearing is 2.4%. There are currently 95,364,792
Ordinary Shares of 1p in issue.

Contact - David Holland (Tel: 0131 220 0733)

Aberforth Partners LLP, Secretaries - 28 August 2014