Director Declaration

ABERFORTH SMALLER COMPANIES TRUST plc

Director Declaration

In accordance with Listing Rule 9.6.14, the Board of Aberforth Smaller
Companies Trust plc has been informed that Mr Hamish Buchan, a Director of the
Company, has announced his decision to retire as a non-executive director of
Standard Life European Private Equity Trust plc at their Annual General Meeting
to be held in 2012.

Aberforth Partners LLP, Secretaries - 5 December 2011

For further information contact: David Holland, Aberforth Partners LLP,

Telephone: [phone].

ANNOUNCEMENT ENDS