Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                          
                                                                                        
                                                                                        
                                                                                        
1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are attached:  Small Companies
                                                         Dividend Trust Plc

                              
2 Reason for the notification (please tick the appropriate box or boxes):               
                                                                                        
An acquisition or disposal of voting rights              X
                                                                                        
An acquisition or disposal of qualifying financial
instruments which may result in the acquisition of
shares already issued to which voting rights are
attached         
                                                                                        
An acquisition or disposal of instruments with similar
economic effect to qualifying financial instruments                                                        
                                                                                        
An event changing the breakdown of voting rights                                        
                                                                                        
Other (please specify):                                                                 

                                                              
3. Full name of person(s) subject to the notification
obligation:                                              Philip J Milton
                                                         & Company Plc
                  
4. Full name of shareholder(s)(if different from 3.):                                                                

                                                                                      
5. Date of the transaction and date on which the
threshold is crossed or reached:                         17 January 2014

                                                                              
6. Date on which issuer notified:                        7 February 2014

                                                                            
7. Threshold(s) that is/are crossed or reached:          5%

                                                                              
8. Notified details:                                                                        
                                                                                            
A: Voting rights attached to shares                                                         
                                                                                            
Class/type     Situation previous    Resulting situation after the triggering          
of shares      to the triggering     transaction                                       
               transaction                                                                    
                                           
if possible    Number    Number      Number     Number of voting    % of  voting rights   
using the      of        of          of shares  rights                                  
ISIN CODE      Shares    Voting                                                        
                         Rights      Direct     Direct  Indirect    Direct  Indirect
                                                                                        
GB0006615826   851,121   851,121     801,121    801,121             4.84%                 

                                                                                          
B: Qualifying Financial Instruments                                                         
                                                                                            
Resulting situation after the triggering transaction                                        
                                                                                            
Type of      Expiration   Exercise/      Number of voting rights     % of voting   
financial    date         Conversion     that may be acquired if     rights        
instrument                Period         the instrument is                     
                                         exercised/ converted.                  

                                                                                   
C: Financial Instruments with similar economic effect to Qualifying Financial               
Instruments                                                                                 
                                                                                            
Resulting situation after the triggering transaction                                        
                                                                                            
Type of      Exercise   Expiration  Exercise/    Number of voting    % of voting 
financial    price      date        Conversion   rights instrument   rights                    
instrument                          period       refers to                               
                                                                     Nominal Delta       
                                                                                            
                                                                                       
Total (A+B+C)                                                                               
                                                                                            
Number of voting rights          Percentage of voting rights                
                                                                                            
801,121                          4.84%                                      
                                                                                            

9. Chain of controlled undertakings through which the voting rights
and/or the financial instruments are effectively held, if applicable:                              
                                                                                 
Proxy Voting:                                                                           
                                                                                        
10. Name of the proxy holder:                                                           
                                                                                        
11. Number of voting rights proxy holder will cease                                     
to hold:                                                                                
                                                                                        
12. Date on which proxy holder will cease to hold voting rights:                              
                                                                                     
13. Additional information:                                                             
                                                                                        
14. Contact name:                                                                       
                                                                                        
15. Contact telephone number: