Refinancing of the Debt Facility

Aberforth Smaller Companies Trust plc (the "Company")

Refinancing of the Debt Facility

The Board of Aberforth Smaller Companies Trust plc announces that the Company
has entered into a three year, unsecured £125 million Revolving Debt Facility
with The Royal Bank of Scotland plc. This replaces the existing £100 million
facility with effect from 1 May 2014.

Aberforth Partners LLP, Secretaries

For further information contact: Alistair Whyte, Aberforth Partners LLP

Telephone: [phone]

17 April 2014