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 17 December 2014 were:-

Excluding current year Revenue = 1,104.68p

Including ALL Revenue = 1,123.86p

ASCOT has bank debt facilities available to allow gearing of up to 11.7% of
Shareholders' Funds. Current gearing is 3.0%. There are currently 95,344,792
Ordinary Shares of 1p in issue.

Contact - David Holland (Tel: 0131 220 0733)

Aberforth Partners LLP, Secretaries - 18 December 2014