Directorate Change

Aberforth Smaller Companies Trust plc

Board Changes

The Board of Aberforth Smaller Companies Trust plc confirm that, as reported in
the Chairman's Statement dated 25 July 2014, Professor Paul Marsh will retire
from the Board as Chairman and as a Director of the Company on 17 October 2014.
From that date, Paul Trickett will succeed Professor Marsh as Chairman of the
Company and will also cease to be a member of the Audit Committee.

Aberforth Partners LLP, Secretaries

(Contact David Holland, Tel [phone])

25 July 2014