Authorisation of Alternative Investment Fund Ma...

Small Companies Dividend Trust Plc

Authorisation of Alternative Investment Fund Manager ("AIFM")

The directors wish to announce that the Company has been authorised as an
Alternative Investment Fund under Regulation 9 of the European Communities
(Alternative Investment Fund Manager) Regulations 2013 (the Regulations) with
effect from 13 August 2014. The Company will act as its own manager for the
purposes of the Regulations, but the investment management of the portfolio
will continue to be conducted by Chelverton Asset Management Limited.

14 August 2014