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 22 May 2008, 431 Ordinary shares at a price of 136.5p
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 5,692 Ordinary
shares, representing 0.035% of the issued share capital.

27 May 2008