Dividend Declaration

SMALL COMPANIES DIVIDEND TRUST PLC

The Company has today declared a second interim dividend in respect of the year
1 May 2008 to 30 April 2009.

A second interim dividend of 1.20p per Ordinary share will be paid on 9 January
2009 to the holders of Ordinary shares on the register at 12 December 2008.

At present it is anticipated that the Company will maintain this level of
dividend for the remaining third and fourth quarters.

4 December 2008