Director/PDMR Shareholding

SMALL COMPANIES DIVIDEND TRUST PLC

The Company has been advised that Lord Lamont of Lerwick, a Director of the
Company, purchased on 17 September 2008, 592 Ordinary shares at a price of
99.89p each. The shares were purchased pursuant to a regular monthly standing
order through the Alliance Trust.

Lord Lamont is now deemed to have a disclosable interest in 8,083 Ordinary
shares, representing 0.049% of the issued share capital.

23 September 2008